D - as to all of us failing to see the power of the surge after the Aug bottom, I have no doubt it has got to be the persistence of LT who completely sold us the doom day scenario everyday, every hours, back then. Blame it on LT, period. <GG>
Again, the single most important force driving the market on the daily basis is sentiment, not fundamentals. Being a contrarian would help. It certainly helped me. I started buying the small/mid caps before CNBC started mentioning it. Although I can proudly say I have preserve almost all my capital from the put gain back then, I had also thrown some hard earned capital away from further put buying after the bottom like you. This will be a lesson discussed in my new website, which is now partially completed but the bread and butter parts are still being written. Hope to open for business early next year.
As to MO, if we have a general market stall, MO will rise slower but rise nonetheless. Kernan showed MO's chart everyday - one could not identify any sign of a general market crash back in late Oct from MO's chart. That itself is backing up a lot of favorable sentiment going forward. MO will climb like a turtle, but it will not fall asleep and fall off the cliff when it wakes up. MO's ultra cheap option premium is foretelling this slow climb. With all the money inflow, the blue chip funds are going to buy MO as their #1 value stock. CCI and XON are probably good alternatives as value plays here assuming the sentiment of "we are OK afterall" continues. |
