Today's Activities

I've taken a much needed break from client work today. I'll do so again tomorrow. I've been working too many hours.

I elected to close my IVGN and KB positions for modest gains. The reaction to the AAPL report had me perplexed--super terrific report, it just fell short of expectations. And I think that expectations have been somewhat extended (like stock prices in this market). Remember when all of the bad news was good news last year? Well, now the good news is bad news and the really crappy news will cause mayhem. Plus, we have oil traveling the river Styxx down to $50 and then maybe more. I imagine that has more than a few twitchy. I added to my MZZ position which I have been building since the beginning of December. I'm fractionally under, but I think that will remediate soon.

I have a position in KRY. That stock is getting whipped about in the oddest fashion with "news" from Venezuela, but each of these dips are bought hard. YOu can see a discussion on KRY on Bill Cara's blog http://www.billcara.com/archives/2007/01/sec_investigation_needed_thurs.html#more

I had really expected (remember that expectation is from a position of fully acknowledged general ignorance) that the market would not need to labor so hard with the expiration of 2006. Given that thesis (a reasonable one I think), I was surprised by the strength in the first two weeks. The Stock Trader's Almanac states that the January expiration (tomorrow) "Dow Down 7 of Last 8 with Big Losses." I guess we'll see. But they were wrong about everything else last year. The widely predicted much anticipated 4th year of a Presidential year combined with harmonic convergence of sunspot activity with Pluto/Saturn ingresses into cardinal houses (okay, I'm engaging in hyperbole), was widely a bust. Perhaps tomorrow there will be some redemption.

It is an interesting book though, pack full of stuff, and I'm glad to have it on my desk. You can check it out here: http://www.stocktradersalmanac.com/sta/home.do

I also supported the economy by going to my favorite place, levenger.com. I needed a desk pad, and what I really wanted was the horn trimmed which was sold out because I did not act quickly enough. But I found a style that I liked well at significant discount. So I elected not to delay.

So I'm mostly cash. MY &*^#@%#&&*#$ WFC 32.5 puts are expiring worthless tomorrow. Did I mention that I was not going to buy options this year? All I can say was that I was a major dumb a$$ last year.

I did create a new watch list for specialty healthcare. I'll upload it later.

IBM is getting sent to the woodshed after hours. Tomorrow will be interesting. Hang onto your hats (and your cash!)