Top Oil Stock Update: Lock in Gains on KAZ and TRGL
Today's Financial News - Posted June 1, 2009
Oil prices are rising. BMB Munai (AMEX:KAZ) is up 25% and Toreador Research Corp. (NASDAQ:TRGL) over 40%. Even Market Vectors Russia ETF (NYSE:RSX) is soaring. What to do now?
by J. Christoph Amberger
Baltimore—TFN: The good news continues for TFN readers. Our oil stocks and our Russia play are soaring. My May 21 recommendation of Market Vectors Russia ETF (NYSE:RSX) traded above $25.70, for gains of over 17% in 2 weeks, BMB Munai (AMEX:KAZ) is up 25% and Toreador Research Corp. (NASDAQ:TRGL) saw an astounding 25%-plus ascent just today… for gains of 45%.
Now, we established generous entry levels for all our recommendations in our Special Research Report “The Top 5 Oil Plays for 2009″. Our initial assessment remains valid. But if you were among the first readers to take us up on our free advice and bought when we marked our entry price for our tracking portfolio, it’s time to lock in early gains. For the latter two positions, it’s time to establish some stop losses. TRGL is currently the more volatile of the two stocks. Let’s lock in 35% if the stock falls back to $4.55. For KAZ, let’s take no for an answer at $1.65 or 20% gains, should the stock begin to slide again.
You know how fast rallies can end these days! French oil slick Total (NYSE:TOT) went up over 10% by Friday… and has halved those gains today!
If the updraft continues, we’ll simply be adjusting our stop losses upward.
And I would be amiss not pointing out that our latest “Secret Stimulus Denominator” options play is now up 45% since last Wednesday. (Just in case you were thinking that my harping on this was purely self-serving: Our HSC members who took the advice are racking up actual gains right now!)
Next Article: Big gainer of the day? Surprise! It’s General Motors
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