Chris, I like the Amex tech and financial puts. However, I think betting against the dollar directly with Swissies or Euros will be more profitable. The Fed will eventually allow the banks to develop a new way to lie about their results, which has always solved financial problems in the past. However, there is no way to lie about the dollar.
I am also worried about the Xmas lies. They really shouldn't stick to the wall no matter how hard the bull is thrown this year, but, then, they shouldn't have stuck last year, either. So it is tough to bet against the herd's idiocy with holidays approaching. I am light in puts and only the truly doomed are currently in my 90/10: Dell, Intel, Rambus, AMAT, etc. I hope to pick up some new MU puts soon. The brokerage stocks are broken and they are still overpriced. I don't like Schwab at these absolute price levels because there isn't much absolute downside. I prefer Morgan Stuckup and Merrill Should be Lynched.
Also, with a prescription plan almost certain in the election year, some of the dopers look awfully pricey still. The DRG is out to lunch on premium prices, so I've stopped using it. I would just go after some real fluff like Pfizer (great co. but fluffy stock) and Warner Lambert. |
