Wednesday, January 23, 2008

Today's Lucky 13

Only JNJ had a bad day. In fact, I was looking at JNJ's chart when I saw it drop precipitously. That is when the DOW was down almost 300 points. We ended UP 300 points--which based on my math is a 600 point swing.

I don't know that I take comfort in that. The market is acting like all of the momo stocks prior to their faltering. I'll post more later, but many of the most heavily shorted sectors were up hugely today. Oh, and my MDC was up about 14+%. You will recall that I have puts on that. Perhaps a stupid stock trick! I still think that their numbers are going to stink. But....we'll see when they report early Feb.

I did buy a handful of FMD FEB 17.50 calls. On RM, someone posted that JPM was looking at their books. Could just be a rumor, but you know that I've been expecting someone to buy them. GS has already taken a stake. JPM was in the consortium of buyers for SLM with Flowers and BAC, so it would make sense that they were interested. So far I'm green with these.

1 comment:

Anonymous said...

What's RM? Should we be reading it?