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Cemex. YTD fallen from the upper 10's at the beginning of the year to mid 2's in early October. It rebounded to 4.93 in early November before falling back to 3.44 on November 25. Looks like it may try to make another run up, sitting at 4.67 at the time of this writing. Short term, I am watching this one to see if it can break resistance and hold. Resistance is 4.89. Support is 4.43 (per Barchart)
CX
On November 10th and the 28th, Citigroup Inc. (C), with $41.9 billion in equity holdings, filed SEC Forms SC-13G’s, indicating that it now holds more than 53.1 million or 5.2% of CX shares versus the 17.5 million shares held at the time of its SEC 13-F filing for Q3. Besides Citigroup, Southeastern Asset Management and Dodge & Cox with 177.3 million and 71.6 million shares are the other 5% plus institutional holders of CX.
After bouncing around between about 4.60 and mid 4.90 the stock is up in the 5.20's today. Will be eager to see if it can hold above 5. Resistance is 5.23 and support is 4.89. Stock is at 5.23 at the time of this post.
Yeah. Just had to be patient. Not one of my strong points, unfortunately. The call position is profitable enough that I would consider exercising but that's not the way I roll.
Speaking of testing one's patience. I am in a Feb bear call spread on SHLD.
My CX option has been flat to down a little bit over the last few days. I decided not to wait around to see which way it was going to break. I got out of the trade with a $40 profit, which equates to 31% in 20 days. Not exactly a dinner at Red Lobster moment but I am okay with it.
