Tuesday, June 9, 2009
"Give him a couple bucks"
The Apalachicola River has streams and swamps that would make Deliverance proud. In fact, it's one of the most bio-diverse places in the US, and it's also the location of Tate's Hell. In 1875, a farmer named Cebe Tate was lost in it, trying to hunt down the panther that was killing his livestock. He was found a week later; snake and insect bitten raw, near Carrabelle, FL. The first thing he said was, "My name's Tate, and I've just been through hell."
I've been in that swamp, up in Seminole country, dragging out some fossil treasures, but not before an encounter with a cotton mouth rattlesnake, a black bear, and running into enough spiders to make you paranoid. After a while, the adventure starts to feel perilous.
So for those who feel snake-bitten by this market, and stuck in market hell, "Deliverance" is coming.
Because I don't know if the Get out of Hell Free (GOOHF) card works for stocks!
So your swamp paired trade is St. Joe and the SPDR's, and a side of cliff.
The land owned by St. Joe (JOE 26.42) is still pristine, and the stock has already consolidated for a couple months. The September 30 calls are $1.1 Between now and then, you have a good chance of another short squeeze. You should be able to make a couple bucks on the calls.
The S&P, as I've been touting, is not heading down, like some of the discredited bears want you to desperately believe. That's just nonsense.
So look at the Sept 101 calls on the S&P at 2.14. They are a couple bucks, and it's the easiest no brainer double on the market.
And for those who still don't know "what are we going to do" take Cliff Resources, and the July 32 calls at 2.20.
Because everyone needs deliverance!
Posted by Palmoni at 5:15 PM