Thursday, September 3, 2015

Oil buys Round 2

A few months ago when oil first hit $40, I set up a portion of positions in the low cap stocks that were sold off heavily.  The stocks bounced when Oil price went back to $60, but not by as much as I had hoped.  Even though I managed to close out two positions for gains, the other positions ended up being a much lower price than the initial dump.

The second leg lower has been much more interesting as we saw prices breach $40 and the panic in the Oil stocks were now set in the large cap stocks like XOM, CVN and I managed to add a larger portion of my portfolio into some of the larger caps in oil, BTU, LF, MU, KORS and asset managers FIG, OZM.

I saw BTU being bought by Soros as low $2, and was managed to get a limit order at 1.37 and LF has been a stock I've been watching which has held 90c on good cash balance, waiting to see if they can stop their earnings losses this quarter.  FIG and OZM are asset managers I've wanted to add and MU is a tech chips play which had a takeover offer in the 20's and been lingering much lower than that price.  KORS is a good earnings play.  The rest are oil plays.

ozm20025/08/2015102000
btu140025/08/20151.371918
fig75025/08/20155.23900
kors15025/08/201538.65790
lf240025/08/20150.922208
wpx100026/08/20155.55500
mu21026/08/201514.443032.4
xom10026/08/201570.757075
dvn20026/08/201539.157830