With the sentiment so sick and market oversold at recent extremes, I decided to start buying the Aug 600 OEX calls yesterday. I started out small and have been adding to the position.I hope to buy some more for a 1% of equity position. A speculation only but it passes the smell test.
I also dove in this morning for some beaten down names like CME, TROW, BIDU, RIMM, HCBK. Watching others like GS, MA, and V. Let me say that HCBK has nothing to do w/ Cramer (a man whose methods I do not endorse because I don't like the way he just magically exits stocks, that got creamed, and no one else is aware he "supposedly got out"). It's BS. "Oh we don't like AAPL anymore" (after its down about 30 points). The same thing is going to happen with his nat gas, steel, ag, and energy picks. He simply presses where the momentum is strong and hopes they keep on rising. Has nothing to do w/ value, homework, or analysis. Just watch and ignore that guy. I was a depositor at HCBK long before the bank converted and went public. If anyone knew the financial virtues of Hudson better than me, than I'm not aware of that person. One other thing, I had my business and trust accounts at Hudson from 1990 so I view the stock offering as payback for having to deal w/ them for a decade -- if you know what I mean. BTW, another great potential $2Bil asset conversion savings bank, similar to Hudson, is Columbia Savings Bank. A very fine institution which I hope, no pray, decides to convert someday.
Let's hope this rally has some freaking legs for once. If it does, I think I can pile on some money here. Thanks for taking the time to stop by!!
I also dove in this morning for some beaten down names like CME, TROW, BIDU, RIMM, HCBK. Watching others like GS, MA, and V. Let me say that HCBK has nothing to do w/ Cramer (a man whose methods I do not endorse because I don't like the way he just magically exits stocks, that got creamed, and no one else is aware he "supposedly got out"). It's BS. "Oh we don't like AAPL anymore" (after its down about 30 points). The same thing is going to happen with his nat gas, steel, ag, and energy picks. He simply presses where the momentum is strong and hopes they keep on rising. Has nothing to do w/ value, homework, or analysis. Just watch and ignore that guy. I was a depositor at HCBK long before the bank converted and went public. If anyone knew the financial virtues of Hudson better than me, than I'm not aware of that person. One other thing, I had my business and trust accounts at Hudson from 1990 so I view the stock offering as payback for having to deal w/ them for a decade -- if you know what I mean. BTW, another great potential $2Bil asset conversion savings bank, similar to Hudson, is Columbia Savings Bank. A very fine institution which I hope, no pray, decides to convert someday.
Let's hope this rally has some freaking legs for once. If it does, I think I can pile on some money here. Thanks for taking the time to stop by!!
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