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New Profits in 99 Cents Only
The Oxford Short Alert
Thursday, May 27, 2004
By Alexander Green, Investment Director
Email – #206
** New Profits in 99 Cents Only
We’ve already taken profits of 212% and 412.5% in our 99 Cents Only (NYSE: NDN) June $20 puts.
Today, we hit our buy stop on the underlying stock, locking in a profit of more than 28% in three months. (The S&P 500 is down 2% over the same period.)
Of course, we’re sitting on gains in several other positions too. Cooper Cameron (NYSE: CAM), King Pharmaceutical (NYSE: KG), LeapFrog (NYSE: LF) and Newell Rubbermaid (NYSE: NWL) are all below our entry prices.
News from the Bush administration that al-Qaeda is planning a major strike against the U.S. has investors nervous and the market on the defensive.
However, we don’t need a market downturn to make money in these short positions. Each of the stocks listed below is stuck in the mud, struggling with fundamental business problems.
As they continue to report disappointing news, it’s reasonable to expect their share prices to trend even lower.
All are worth shorting at current levels.
If you have any questions, feel free to call one of our VIP Trading Services representatives at 1.888.570.9830 (toll-free) or 410.223.2679 (e-mail: viptrader@oxfordclub.com), or contact Pillar One Partner Greg Galloway at 1.800.438.3040 or 407.667.4729.
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Stock: King Pharmaceuticals (NYSE: KG)
Current Price: $13.13
Comments: Sell short. Buy stop is $16.00.
Stock: LeapFrog (NYSE: LF)
Current Price: $20.90
Comments: Sell short. Buy stop is $25.50.
Stock: Qlogic (Nasdaq: QLGC)
Current Price: $29.16
Comments: Sell short. Buy stop is $34.00.
Stock: Cooper Cameron (NYSE: CAM)
Current Price: $45.18
Comments: Sell short. Buy stop is $54.00.
Stock: 99 Cents Only Stores (NYSE: NDN)
Current Price: Take profits!
Comments: Stock hit trailing stop.
Stock: Newall Rubbermaid (NYSE: NWL)
Current Price: $23.13
Comments: Sell short. Buy stop is $26.00.
Stock: Janus (NYSE: JNS)
Current Price: $15.92
Comments: Sell short. Buy stop is $18.00.
Stock: Albemarle (NYSE: ALB)
Current Price: $28.44
Comments: Sell short. Buy stop is $31.63.
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Bio:
Alexander Green is the Investment Director of The Oxford
Club. A Wall Street veteran, he has over 16 years
experience as a research analyst, investment advisor, and
professional portfolio manager. Mr. Green is also
considered one of the most talented financial writers in
the business. He’s been featured on “The O’Reilly Factor,”
profiled by Forbes and Marketwatch.com, and has written for
Louis Rukeyser and several other leading financial
publications. He currently writes and directs The Oxford
Club Communiqué, the Oxford Insight e-letter, and four
elite trading services: one focused on momentum stocks,
another focused on companies with significant insider
buying, another dedicated to international growth stocks
and another focused on short-selling fundamentally flawed
companies. Mr. Green is also a top-rated speaker at
financial conferences around the country.
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