Wednesday, September 29, 2010

Moly, Transocean

Sold MCP @ 28.21 (30% gain) on Monday. Bought it back at 26.25. Huge, beautiful bullish reversal today with a long tail on heavy volume.

Bought back by RIG call late last week for a nice 30% profit. RIG is beginning to look overbought but I think oil is starting to break out and RIG may exceed 70 in the near term.

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