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BEXP - New short position: BEXP

01/28/2010 01:21 PM by Dave Pinsen

Shorted BEXP today at $13.11. Since I own an equivalent amount of USEG, combined, this makes a pairs trade. Details to come at http://shadowstocks.com/.

Rating:
4

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  • 01/29/2010 05:11 PM by enrick71

    Good call

    Rating:
    4
  • 01/31/2010 05:37 PM by Dave Pinsen

    Thanks, we'll see. Are you short this too?

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    0
  • 02/02/2010 11:01 AM by Dave Pinsen

    After the close yesterday, BEXP announced positive drilling results in wells that USEG is not participating in. I had set a stop limit buy order on this position, but BEXP opened above that level today. Last time it announced positive drilling results though (on Jan 5th), the stock shot up the next day, only to give back its gains within the next several days. We'll see what happens this time.

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  • 02/03/2010 02:51 PM by Dave Pinsen

    Canceled that buy limit order today. Going to let this ride a little.

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  • 02/03/2010 03:50 PM by enrick71

    Pay attention, I exit on the news. The altman score couldn't be very usefull for such kind stocks.

    Good luck

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    0
  • 02/03/2010 06:25 PM by Dave Pinsen

    You covered near the 52 week high? I think I'll see if it settles down a little before covering.

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  • 02/10/2010 03:46 PM by Dave Pinsen

    For a loss of 9.5% Had it been an actual pairs trade with USEG (i.e., had I bought USEG when I shorted BEXP and sold it when I covered), that pairs trade would have gone for a 1.6% loss. I actually bought USEG a year and a half ago, at about $2.80, and continue to hold it. More details: http://shadowstocks.co...

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  • 02/10/2010 03:48 PM by Dave Pinsen

    Forgot the first part of that sentence: I covered this position at $14.35 today.

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