Fly has been all over this name as of late. Last night Cramer had a piece putting Legg Mason, Inc. [[LM]] on the sell block. In this segment Cramer explained how Bill Miller bought the mortgage crisis, and bought it all the way to the ground– something Fly has been telling us the whole time.
The stock is sitting right above it’s 50 MA @ 40.01, that level will fail.
With everything going on at the moment I would not be surprised to see this stock get shot today. I will be buying puts at the open.
Top pick: Short Legg Mason, Inc. [[LM]]
FCX, TSO on fire.
LM Short @ 40.30
Been short LM since 38 here. Regret not pullnig the trigger to avg. up the short position when LM hit 46.
I grabbed Jan AIG calls for .18 yesterday, the stock is lower today and I sold for .40. Love this volatility!
Will buy back if they come back in.
Don’t forget about WNR… not really participating here, but that may mean opportunity.
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POW!
That LVS last minute short last night was golden baybee!
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Jake, see FTK chart. This is what happens when you go with shit. Stick to the good companies.
Funny Cubs, I just bought some leaps in AIG.
Note: The refiners are where it’s at.
RC:
DPS on fire. I assume you still hold that one.
I picked it up after you mentioned it, and that you had it in your 401k
VLO finally caught an upgrade (Tristone)
long DPS and love it. It also has the Fly stamp of approval.
NOV heating up
look at my GOOG go.
http://www.oilintel.com/images/charts/refmar1.jpg
RC-
I remember you stating that you held CMG in your longer term account. I don’t have a position, but am considering one when this forms a base. Sorry to bring up a bad topic, but are you adding here?
-Fox
I overpaid for my GOOG calls, barely even after this move.
UNG, CHK, XTO
Fox,
yes.
Cubs,
Agreed, most of my money is in TSO on the refiner side, just some “crack dollars” on the WNR.
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What’s going to happen if VLO pops $36? Damn!