After swearing I would cease and desist from all margin “cokey” related behavior, I made myself a liar once again today by running into single digit margin territory after buying a stake in WNR (PPT and Twitter time stamped).
I’ve liked the idea of capitalizing on the refinery spread since the Fly brought it up, but I just couldn’t bring myself to follow along at the time, for whatever reason. I figured I’d just sit it out and watch you all run to grand profits without me. But, fate was far kinder to me than that, and so I purchased my position at an average cost of $16.68. Hopefully now I can partake in only the enjoyable sensations of owning the company. I haven’t envied you holders of the name up until now; no not one bit.
Meanwhile, silver rebounded significantly higher today, as short sellers got their balls crushed between two ingots of the metal; agreeably, as they rightfully deserve. Another 60 cents to the price of SLV (2%) and I break even. I make an additional 10% for every move of roughly $3.50 per ounce equivalent of SLV. I hope certain National Health Systems are paying attention.
For the day, I was up 3%, thanks to magnificent decision making and prudent selection of stocks and sectors.If you enjoy the content at iBankCoin, please follow us on Twitter