To All, Investment notes: 1. US savings rate turns negative for the first time ever. As expected, the reckless cutting of rates by Alan the Enabler has led to more debt, more spending and less savings in the economy. And brokerage analysts still dare to talk about how the Baby Boom is getting ready for retirement. Have they ever heard of Bonus Village?
2. I sold a third of SLB today. It was the only driller where I had a full position. I still love it and think it is going much higher, but when the ducks are quacking, I feed them. I expect to buy it back later this week or early next week after the herd starts grazing and stops stampeding.
3. Morgan Stuckup figured out that the chip equipment cos. are overpriced. Duh! <G>
4. I am letting some more Dell spread conversions go today.
5. I have unwound buy writes and spread conversions in The Mexico Fund. I have also sold my straight holding in it. Adios, Mexico, thanks for the pesos. <G>
6. Ciena. What can I say? I could have bought it better, at $9 instead of $12, but I'm still relatively pleased with the speed and conviction of its bounce.
7. Diamonds are Forever. DeBeers is lookin' good.
8. Don't look now, but Chile Fund is pushing $10. Chile today, hot tamale.
MB |
