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Today, Derek Webb, CFA and Michael Sprung commented about whether CAE-T, G-T, OBE-T, DAY-T, CNQ-T, MBT-T, RCI.B-T, CWB-T, TD-T, TLM-T, NFI-T, TRI-T, CVE-T, BNS-T, SU-T, BB-T, YRI-T, MFC-T, MSI-T, WN-T, FFH-T, ABX-T, CMG-N, K-T, RBI-T, CNQ-T, RY-T, VXX-N, POT-T, ELD-T, G-T, POT-T, LVS-N are stocks to buy or sell.
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$48.070
Owned
(A Top Pick Nov 30/10. Up 5%.) Long Eldorado & short Dec 2010 call, taking 5%. Does this every month.
(A Top Pick Nov 30/10. Up 3%.) Short Potash Puts @$140. 3% for the month. Ended up owning which he was happy to do.
(A Top Pick Nov 30/10. Down 8.7%.) Long VXX (5.5% option yield) and short Dec 2010 Calls. This is his hedge.
Insuring a portfolio? A simple but expensive way is to Buy a Put. You could do a straddle where you Buy a Put and Sell a Put further out of the money so the cost of Buying the Put is less. 2nd way is selling and taking some profits. You’ll pay some taxes but it doesn’t cost you any money. 3rd way, which he prefers, is going long S&P 500 VIX Short-Term (VXX-N). If the market corrects it will go up. He goes long this and Shorts a Call Option against it to take an option premium.
Gold. Continues to be a massive Bull on gold because the bottom line is developed nations globally are effectively bankrupt. We are going to have a new monetary system in the world and gold is going to play a part in it.
(Chinese are reducing their rare earth metals by 35%. Viewer’s comment.) There is a shortage of rare earth minerals and this stock is going to go a lot higher.
