Michael, I rarely look at options for a quick profit, though I never mind them. I tend to be a long term investor with these short term instruments. However, I think I would wait until after Xmas to hold more than a 1/3 position. We are already hearing stories about Intel's new chip, IBM's Eunuchs <G>, and the success of YourWare. These are what I refer to as the Xmas lies. They are false or grossly overstated, but the herd does believe them.
I share your feelings about the BK. That is why my long capital appreciation portfolio is only 10% of my total portfolio. The Bk may not happen and I want to own good cos. if it does not. And it may happen and my cos./funds may do o.k. Or I may get creamed. I fear the latter more than I hope for the first two, and have thus make that bet a small one. Gold, platinum, diamonds etc. are some of the assets, either physicals or through stocks, that I hold in that portfolio. I like Keane better in the mid 20s, but I like it here, too. Along with the oil group, not just the service cos. I actually prefer producers. But all this stuff added together is still a smidgeon of my total portfolio.
Cash is a princeling at best. Puts in a 90/10 system are emperor for low risk profits. In fact, I would rather own calls in a 90/10 portfolio than hold straight cash.
MB |
