Profits in a bear trap rally can disappear quick. I could sell some EME for 10%, but I will hedge EME buys with SRS. Pair trade~ market neutral.
GW buys SRS @ $85.64
GW buys EME @ $27.85
Potentially buying into HK & CHK…I missed the low prints, but I feel the opportunity will arise again.
Just as a side note HOC is valued at $45-50 per share by a good friend of mine who is a graduate of Columbia with an MBA and 22 years in the biz for analysis and running $….
I’m still holding off on new or adds to the refining sector.
Still looking for S&P to hold 1281 today. Let us see what the Beige Book brings later today.
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