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XEC - Bought at $80.84 as part of a pairs trade with MMR

06/14/2010 11:56 AM by Dave Pinsen

Bought at $80.84 as part of a pairs trade with MMR. XEC Has an Altman Z"-Score indicating financial strength and looks stronger than MMR technically as well. Using wider, double digit stops on both sides of this trade, for reasons mentioned here ( http://shortscreen.com... ).

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  • 06/15/2010 09:34 AM by Dave Pinsen

    BTW, was going to widen the stops on this and pair it with a long position, but, as I mentioned here ( http://steamcatapult.c... ), I couldn't find a long I liked in this industry. So I tightened up the stop yesterday which got me out today.

    Rating:
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  • 06/15/2010 09:35 AM by Dave Pinsen

    Disregard that last comment, which was meant for another board.

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    0
  • 06/18/2010 06:17 AM by ccyork

    Dave,

    Can you give more detail on why you picked XEC in particular for this pairs trade? I understand why MMR was picked as a short, but XEC has had a huge run up over the last year. Is this a good time to go long? Maybe my understanding of the theory here is a little weak, but why not choose a stock that has gone up less, such as ECA?

    Thanks!

    Rating:
    4
  • 06/18/2010 06:20 AM by ccyork

    Oops...I missed the last posts, but I'm not sure I follow. Are you still long XEC?

    Rating:
    4
  • 06/18/2010 12:56 PM by Dave Pinsen

    Yes, Chris, still long XEC (and still short MMR, though that's not working out too well so far). Rationale for buying XEC: solid Z"-score, solid technicals, and VectorVest rated it as the top stock in MMR's industry (I think in part because of the run-up. There's a big technical aspect to their rankings).

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    0
  • 07/13/2010 02:51 AM by Dave Pinsen

    Got stopped out of XEC at $74.96 for a loss of 7.3%.

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