Ynot,
I bought some lu around 63 and wrote Sept. 60 calls for 6+ dollars in my investment account. Now I think it might go down to 50~55. Will add some if it gets there.
I'll keep an eye on these three, since one is your favorite short.
Van Wagoner Fund's Van Wagoner Says
Stk Prices Too High
NEW YORK -- Garrett Van Wagoner runs four of the 10
best-performing mutual funds in the country, but the portfolio manager has
assumed a cautious view of U.S. stocks after selling some of his Internet
and semiconductor holdings before their spring and summer declines.
"The valuations just got unreasonable," Wagoner said of his decision to
get out of those stocks, investments that enabled two of his funds to gain
102% and 122%, respectively.
"We bought a little bit of energy stocks in June and July," he said, "but
mostly we've just parked our money in cash reserves waiting for a better
buying opportunity." His cash allocations range from 10% to 20% of assets
depending on the fund, he said.
Van Wagoner touted several potential investments that he calls "great
companies, bad stocks. These are companies that fundamentally we've just
fallen in love with - the business models, the management, the potential
market opportunities are just enormous."
At the same time, however, he considers their stock prices overvalued.
"We still have small positions in all of them, but we would love to add to
them in any correction."
The firms include Ariba Inc. (ARBA), which makes software to automate
e-commerce transactions; Copper Mountain Networks Inc. (CMTN), a
developer of digital-subscriber line products; and Phone.com Inc.
(PHCM), a maker of operating systems for hand-held devices.
Gotta go now.
Iris |
