My near-term target is close to $4 but I already held to $3 once and then watched it tank. “Keep it together, keep it together”. The plan, for now, is to stick to the plan.

It’s up on a lot of positive news, namely certain hedge funds are buying in plus recent hotel sales that should help their cashflow. Fundamentally speaking, they have a lot of debt but also own high value properties like the Ritz hotels. Bill Gates reportedly purchased 5.6% of active stake at around $8/share.

Click to enlarge

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[[aapl]] Apple, short via January puts

[[bac]] Bank of America, option straddle, neutral

[[bee]] Strategic Hotels & Resorts, long stock

[[lyg]] Lloyd’s, long stock

[[spy]] S&P 500 SPDR ETF, short via March puts

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Originally posted on September 13th. BEE is up something huge today. Here’s a 1-year daily chart.

Click to enlarge

Needs to close above $2.00 and then $2.29 is the next level to watch for, but it wasn’t tested much and in this market it can just go ahead and pierce above.

It’s at $2.10 at the time of writing (not reflected in the chart yet). I’m going to hold onto it as I like the intraday volume pattern so far.

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Long BEE.
Risky trade, so playing it small.

Company has $0.92 per share in cash, book value $9+.
Volume pattern is positive since mid-July to present.

Negatives: insiders and institutions are selling.

Hat tip for the idea to Jelly Bean Trader.

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