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Bear in the woods or bull in the ring?
Richard Croft
Stock markets declined steeply on the week as the fear factor took its toll. The S&P/TSX Composite Index retreated 6.0% week-over-week, mainly on a slide in commodities, led by crude oil, which dropped to near US$85 per barrel, before recovering to US$87 by Friday’s close. In New York, the Dow Jones Industrial average...
Golden Again?
Richard Croft
I talked about gold stocks in the in the June 19th blog and looked at some aggressive trades using July options. The July options expired over the week end and the results are in. The Goldcorp July 46 calls that were trading at $1.25 at the time of the June blog, went off the board on Friday at $5.60, up 347%. The Barrick Gold...
A Lump of Coal
Richard Croft
Some of the world’s largest coal reserves are tucked away in the arid wastes of Mongolia. The Tavan Tolgoi coal deposit, for example, holds about 6.4 billion metric tons. That’s the world’s second largest coal deposit after China’s Shengli field. Recently, the Mongolian government arranged for a US/Chinese/Russian...
Opportunity in Nuclear Revival?
Richard Croft
“Nuclear” is a dirty word these days. The impact from the Japanese tsunami is still ingrained in our minds. The constant video feeds of smoking ruins, technicians in haz-mat suits, and endless sound bites by “experts,” put the nuclear industry back twenty years. Surprisingly, despite problems with Japan’s nuclear...
The Golden Mean
Richard Croft
Gold stocks are strange hybrids. On the one hand, they are influenced by the price of gold. On the other, they are operating companies whose share price is governed by the usual: revenue, earnings, and debt. That Jekyll-and-Hyde personality can spell opportunity for nimble options traders looking to gain from short-term trends....
Looking in the Rear View Mirror
Richard Croft
Occasionally I assess the impact of various strategies presented in MX’s Blog. It’s not about gloating when successful or finding fault when I am wide of the mark. But rather, it is about learning from past successes and failures to become better traders in the future. Some of the ideas posted in May… May 1, 2011 –...
Banking on Banks
Richard Croft
With another quarter of missed earnings, analysts began cutting their price target for Canadian Imperial Bank of Commerce (TSX: CM, Friday’s close $78.45). CIBC reported a profit of $678 million or $1.60 per share. Up from the same period last year, but well off the $1.80 estimate that analysts had been forecasting. The...
Viterra Bid – Success or Failure?
Richard Croft
Rumors are swirling about Canadian agri-business Viterra Inc. (TSX: VT, Friday’s close $12.04) possibly bidding for the major Australian grain handler GrainCorp Ltd. Viterra is already a big player in Australia, and the $1.89 billion acquisition would expand Viterra’s footprint in the all-important Asian grain market. Does...
The Protection Game?
Richard Croft
It seems that the world did not come to an end on the week-end. Something that was being promoted by a group of religious zealots who were predicting the end of times… commonly referred to as the “Rapture.” Of course, one could argue for an apocalyptic event, if the peripheral Eurozone countries cannot find the political...
Consumer Theme
Richard Croft
You might think about consumer staples as a contrarian play in a forgotten sector. Consumer staples in Canada, which includes the largest grocery and drug retail chains, has been quietly climbing a wall of abandonment since late last year. And with volatility levels in the lowest quartile of all Canadian options, premiums are...
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