SKF
I picked up SKF as the market weakened late in the session. I hoped to picked up a few more points but I was trailing the stop using 5-min bars and got stopped out.
Bought @ 126.80, Aug 100 Call
Stop @ 125.80
Sold @ 128.45,
Profit - $1.50 on calls
BG
BG killed their earnings report. It closed the opening gap perfectly so I bought some shares for a daytrade and Aug 95 Calls for a swing.
Here's the BG comment from Briefing.com:
24-Jul-08 06:38 ET In Play Bunge reports Q2 (Jun) results, beats on revs; raises Y08 guidance (99.32 ) : Reports Q2 (Jun) earnings of $5.45 per share, includes gains, charges, may not be comparable to the First Call consensus of $2.27; revenues rose 73.1% year/year to $14.37 bln vs the $13.25 bln consensus. Co raises guidance for FY08, sees EPS of $11.60-11.90, compared to previous guidance of $9.35-9.65, may not be comparable to $9.16 consensus. "Looking to the second half of the year, fertilizer fundamentals should remain strong. While growth in demand for some agricultural products may soften slightly due to the sustained period of high prices, agribusiness margins should be solid. Edible oils should improve from its performance in this quarter."
BG killed their earnings report. It closed the opening gap perfectly so I bought some shares for a daytrade and Aug 95 Calls for a swing.
Here's the BG comment from Briefing.com:
24-Jul-08 06:38 ET In Play Bunge reports Q2 (Jun) results, beats on revs; raises Y08 guidance (99.32 ) : Reports Q2 (Jun) earnings of $5.45 per share, includes gains, charges, may not be comparable to the First Call consensus of $2.27; revenues rose 73.1% year/year to $14.37 bln vs the $13.25 bln consensus. Co raises guidance for FY08, sees EPS of $11.60-11.90, compared to previous guidance of $9.35-9.65, may not be comparable to $9.16 consensus. "Looking to the second half of the year, fertilizer fundamentals should remain strong. While growth in demand for some agricultural products may soften slightly due to the sustained period of high prices, agribusiness margins should be solid. Edible oils should improve from its performance in this quarter."
Bought @ 99.75, shares & Aug 95 CallsStop @ 98.90
Sold @ 101.93,
Profit - $2.18 on shares
POT
POT released good earnings so I tried catching a rebound in MOS. When that failed and all the ferts collapsed, I switched to a 1-min chart in search of a reversal. Reversal trades can be profitable if you can catch a low-risk entry. I waited for the MACD to cross-over and for MOS to test the bottom and trade back above the moving averages.
1st Trade
Bought @ 127, Aug 90 Calls (small position)
Stop @ 124.90
Sold @ 124.90
Loss - $2.5 on calls
2nd Trade
Bought @ 116.30, shares
Stop @ 114.90
Sold @ 119.30
Profit - $3.00 on shares
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