Chris, I have bought or added to a number of issues recently. Schlumberger and Freeport McMoran Gold and Copper the most recent. I would still buy Ligand on dips under $10. I like The India Fund here. Midway Games is a buy, but there is no hurry, as Xmas will be a bust.
I prefer my credit spread with the leaps out in 2001, and after expiration in April, out to 2002. Novellus, sadly, does not have leaps. Right now, I like Dell, Airtouch, Xilinx, CCU, and Intel Credit Call bear spreads. On the positive side, I very much like SLB, Phelps Dodge, Barrick and HAL credit put bull spreads. Go easy on these, as my asset allocation in the credit spreads is a bit lopsided as to industry at this point. After the next rate cut, I will want a credit bear spread on Chase, Citi, Merrill, Fannie Mae and Freddie Mac, the whole bunch of bloated bankrupts. And I will want more credit bull spreads in the intl oils, and the biotech index. And, I will do some bear spreads in the internut index, which scares the crapola out of me, but it is a long term layup.
MB |
