Will things start looking up for BP?
I’m optimistic that this generation of containment device will work–once they manage to trim the pipe. Bought BP July (17-July expiration) calls at 40 for 2.84. BP is currently trading at 38.34.
Month: June 2010
Recovering from a correction–six years ago
On June 1st 2004 SPY was well on its way recovering from a 5% correction that started in May. The jury is still out on whether this year’s 12% correction (based on closing values) is over, or just the beginning of a bear market. Six years ago we didn’t have the PIIGS (Portugal, Italy, Ireland, Greece, and Spain) in financial turmoil, or a big …
