Thursday, February 21, 2008

Any geologists in the house??

Serves me right for betting against my team.

Been riding a pretty good streak on the markets. Hitting one stock hard on the strength of its commodity price. And what commodity is that, one might ask.

Oil?

No.

Gold?

Good guess, but no, again.

The answer is coal. Yeah, motherfucking coal!! Metallurgical coal, to be exact, but yeah, go figure. With all the advancements in technology, with all the R and D put in alternative energy sources, with all that shit going on its coal thats bringing my ass back from the verge of having to look for a real job. Anyway, the price of the commodity is expected to more than double from last year's prices so yip-dee-fuck-dee-doo for me.
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Looks like I lucked the fuck out this afternoon. Caught a news release just as it was made public and jumped on the stock hoping it would move. The company announced their prospective mining results from the land they own. I could never read those fucking things (too scientific; you practically have to be a geologist to make heads or tails out of it) but I threw a few thousand at it to see what would happen.

In at 0.65. Price now is 1.45. All dumb luck. Makes me feel a little better about that losing streak I was on before. Now the question is when to lock in profits and if to add on a position just before the close hoping the insane momentum will continue tomorrow. The problem is I cant understand the report. I cant tell if the stock is flying cuz the promoters are pushing it or cuz the numbers in the report are that damn good.

The difference could be a couple hundred bucks of profit vs killing it pretty good. Good enough not to worry about bills for a while and concentrate on more fun things like watching movies and hitting on Franki.

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Closed the day at 1.57. Nice. Funny to think I almost sold at 80 cents. Fuck, I would have considered some serious self mutilation if I did. Can never tell what tomorrow brings but looks like the run may continue, at least for a bit. Shit, I always feel like the biggest douche bag when I talk about a stock I own that did/does well. Maybe I should donate half of what I make to charity... or go to the strip club. One or the other as long as I'm giving.

3 comments:

Franki said...

Franki's take on this post:

Blah blah blah gold. Blah blah blah coal. Blah blah yip-dee-fuck-dee-doo blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah blah. Hitting on Franki.

I'm so friggin cool, gettin hit on by young Canadians.

2 Dollar Productions said...

Screw donations - you earned that money. And I'm not surprised about coal because it's been in the news a lot in TX over the past year or so as there are several fights about plants being built.

Jake Titus said...

Wow, all those years of Santa leaving coal in my stocking. . . . I'm a fucking millionaire!!!! Thanks for the info!