Macquarie upgrades Drillsearch to Outperform from Neutral, TP=$1.15, page-4

thank-you spec -i did gather they had a fair amount from a post from auto re broker research
-sold calls are a non event - they will pick up a bit of premium and that is all

other hedge is app $12m in the money at present then!
better than nothing but they may have done more since this table prepared perhaps??

those of you who think I am crazy by keeping on buying - there is a bit of method - i did cash up somewhat a couple months ago and I have sold down oilers a fair amount over 6 months or so- however I have sold what i consider to be more speculative stocks ( mbe, bru, pvd ,tte, buy, zip and even ajx which look good) just lately!

I used a similar strategy during the gfc to improve the quality of my portfolio and it worked very well. However , I should learn to hold off a little longer as markets do tend to overshoot badly (lets hope they are overshooting on dls and sxy etc!) . Mind you if all my assets were tied up in shares I would be a little more circumspect!!

One of the reasons I did not wait longer is I keep thinking there may be a ceo or a board with some balls out ,there and actually do something rather proactive and take over someone! -got to be some great opportunities hasnt there?? I mean, we are hardly seeing the death of oil are we? A matter of fact 6 months or so at these prices and the Cooper and even the qld lng plants will be in a much better position in terms of less supply coming on around the world - even a recovery to just $80 and a low $au , and the cooper is doing pretty well I would think!