Well, yesterday and today so far have been pretty solid days for The Oxen Report. Yesterday, we picked up some shares of DIG in the morning at 32.50 and were looking to sell at 33.15 – 33.47. We were not able to reach 33.47 but sold at the end of the day for 33.30 for a solid 2.5% gain. On the Short Sale side, we were looking at SRS for a short sale. The housing industry was a laggard yesterday, which did keep SRS up. We got into it at 8.12, looking for 7.96 – 7.88 for a sale. The ETF hit 7.96 briefly, and we did not sell. We got out at the end of the day at 8 for a solid 1.5% increase after covering. THE REAL GEM THOUGH is our Long Play of the Day from Friday with M/I Homes. We got into this one for an earnings boost coming in tomorrow. I said, however, if we got 5-6% before that, we should sell. Well, today the stock is up over 13%. We got in on Friday at 10.35. we were able to sell out at 10.97 for a 6% gain today. Pretty great trades.
3/3!!!
Let’s get into today’s Overnight Trade of the Day…
Overnight Trade of the Day: Pioneer Natural Resources Co. (PXD)
Analysis: Oil companies have across the board been doing fairly well this earnings season both on the main line and on the independent side. This has mostly been not to exceptional quarters but because of the fact that they were majorly undervalued in the Q4. Nearly every company to report has beat earnings. Yet, the market downturn over the prior few 
weeks has made for some great buying opportunities on surprises.
Pioneer Natural Resources (PXD) is one of these companies that I am expecting a pop from after reporting earnings this evening…
IN PROGRESS
Entry: We want to enter today between 46.60 – 46.70.
Exit: We are looking to exit tomorrow morning on any increase. If decrease, we will have more information as to what to do.
Stop Loss: None.
Good Investing,
David Ristau
