A strong week for crude futures gives me a resounding win this week and that makes three weeks in a row of my high-risk oil basket beating the more conservative dividend play of T. Boone Pickens. Big numbers for the week, with $RIG and $SN the only outliers for me. Dirty Sanchez market cap now under $500 million. Possible M&A target?
Here is Boone’s results for the week, barely eking out .35% on the plus side:
My basket of crude-related stocks brought strong returns last week with a +3.36% average:
All gains or losses shown are unrealized. In the case of the Pickens portfolio, I am waiting for his Q2 data to be released so that I can update his basket.
I sold my stake in $REN last week for a gain of 14% in four days. I also bought and sold a couple of thousand shares of Dirty Sanchez ($SN) for a one-day gain of 5.4%. My remaining shares are deep under water, although I have day traded it extensively over the past year to great success so my numbers are somewhat skewed.
Ceude is doing it’s Monday Dance, down .7 at time of writing. I will be looking to get back in a couple of names if we see any significant drop today. There is still plenty of uncertainty and pessimism surrounding the current price of crude oil even after it hit $50 in the overnight session for the first time in months. The dollar swings in my oil basket are not for the feint of heart. But I am not going to get myself in a lather over it.
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