Friday, December 31, 2010

QXM/XING merger arb

With the surge in Chinese metal companies lately, the merger arb between parent XING and subsidiary QXM, which the parent intends to buy the remainder of, has blown wide open.  With XING trading at $3, the value of a share of QXM would be $6.70 if the deal goes through.

I'm long QXM, short XING.

Thursday, December 30, 2010

IBM chart looks beautiful

Nice consolidation between 144 and 146 in IBM at all time highs.  It's now flagging higher above 146.  The long looks beautiful.  I bought more calls with some time in them to let this stock play out

Monday, December 13, 2010

VLO now at the key $22 area

I've been long VLO from $20 about a week ago, and now it's getting to the big load-up price at $22.  Refining margins are still really strong, and VLO is still best of breed in a sector in which WNR and CVI have already run big-time.  Looking forward to the break to new 1 and a half year highs!

In other news, the position in Uptrending Equity: Swapped out puts for a long Dec VIX pos has been making me money pretty much every day regardless of market direction