Morning Thread

Gator's Chart of the Day: WLL

Whiting Petroleum reported earnings after market yesterday.  They beat on the top and the bottom on record level production and increased proven reserves to another company record.  (replaced 274% of 2011 production)  The company raised guidance for Q1 and full year 2012 production.  The stock traded above $58/share after hours. Press release details here: http://tinyurl.com/7fn7ydq

Today (if my math is right) we should see one of those golden cross (50 crossing up through 200 day sma) thingies which puts the chart in a bullish configuration.  The stock is not at a good buy point and I would not be surprised to see some profit taking but I don't look for much of a dip.  Energy has been strong lately. 

I sold 3/4 of my Mar55 calls into the close as a matter of discipline but I will be looking to add to my position.  I will likely look for longer dated calls and move to a higher strike.