Resource Fund and hospitals

[selkirk]

Was going to update the resource fund and do some trades and some updates (no longer own UYG-how to lose 18% on double etf), was worth a shot. also own 25% of WFC, every US holding has a covered call against it, energy portfolio was at 60% now at 40%.

for example CNQ (cnd $) went from 50-60 over, it seems to have a range of 45-62. currently energy is at 40% and have covered calls and uncovered call, the resource sector has been taken out and shot, and it will probably get worse. these stocks can wash out until there is no earnings and they will be totally ingorned, then they will come back....have not reached that level yet.

since nov 3 have been going to the hospital on a daily basis, low priority emerg. nothing life threatening however the bump in my back got bigger and worse infected. so it will take time however in no (little pain) and a complete recovery will happen. still have to go to the hopsital for a week or two, then will be done. last time was sick was ten years ago, so hoping it will be at least another 10 years, hate hospitals.

I started the Red River Resource Fund as a way to track someone I knew, and show how options could improve the risk and return and lower the risk. well it has improved better than the model portfolio but is still down sharply...so will just track it as a resource fund (cdn.).

this was my friends portfolio in one account, he has actually increased his position in oil (oilexco, and written more puts on the position. if you write puts in the resource sector today, you are brave and foolish.

Sept. 2008 Orginal
200 CNQ $81.98 X 200 = $16396
1100 OIL 1100 X $14.05 = $15455

cash 2000

total 33,851


1000 oil
200 cnq
300 YRI
10 Nov Call $8 oil
2 Nov Call $80 CNQ
3 DEC YRIcall $10
4 Jan Call CNQ $76 (.75.90) $300
3 Mar call yri $9 (.35.50 ) $105
cash
$2980

will sell 100 oil at the close today $400, cheap oil stock however does face challenges and no one cares about it, also have to much of it.

YRI has been halved but that is my gold stock, and it is cheap, also pays a small monthly div. ingored and hated by the market so will not go anwhere for awhile.

thanks
selkirk

 

[DOGS THAT BARK]

Kirk Glad to hear your in no pain--but don't like the idea of your having to go to hospital on daily basis--how long a commute is it?
++++++++++++++++++++
Got a question for you--do you think there will be time in future (if so how long) that foreign markets will move to drum beat of their own economy--vs marching to tune of U.S. economy?

 

[selkirk]

the commute would normally be one hour, however most of the days staying at a home that is only 10 minutes away.

which is good, have a small place that use for a day or two a week, ussually get in late from a long day trip ect.

actually made 3 good trades, even on the monday when I went in, sold an option for 1.15 that the next day was .50-.75, however a friend who picked me up from the hospital told me what she thought of trading and being in the hopspital....used some words will have to look up... still a good trade that had to be done that day.

some doctors and nurses are useless however that great majority do a great job, in what must be at times a very stressfull job.

by the way resource sector had a great day yesterday, so if the trend is in place it will pull back today....the markets are amazing who stocks rally 10% and then give it all back.

thanks
selkirk