Calling selkirk
- Thread starter dawgball
- Start date
frist thanks for the praise Dawgball, always enjoy reading your posts.
as for the market I have just been sitting back, not doing to much. wound up most of my shorts last year
. as for my portfolio every stock that I have has covered calls written against them, in some cases I have rolled down these calls.
when in doubt I have sold a few positions. actually have some cash, which is rare. the portfolio will have always income coming in, by the way of the covered calls, and divs. currently option premiums are high because of the volatility.
Nasdaq has fallen hard but may take time to come back. people who fell in love with the sector will be selling on a rebound. still own some qqqs.
Energy companies, especially cdn. energy companies just seem cheap. of coarse a mild winter may make the sector fall further so I am making up a small list of quality stocks. many wild cards in energy economy,winter (how cold, mild). Also after Afganistan has been secured? they will find links to other countries. maybe Iraq, but maybe Sudan. Natural gas is cheap, but will oil recover longer out, oil may fall to $18 but should be able to hold around $22 (famous last words.)
financials stocks look interesting.
in general I am more bullish than I have been, but I will wait I do not have to pick the bottom.
At a large bookstore in 1999 they had almost half the back wall in investment and business books. plus special displays throughout the store.
2000 they moved the books to a group of shelves half the display size.
2001 Nostramdus sold more books in two weeks than the investment books probably will sell in the year. take away books about Warren buffet and written by (CNBC-staffers) and I counted 7 investment books, not counting the $3 bargain bin. there is hope.
finally when the economy turns stocks like Alcoa, Alcan, Inco, and other metal stocks would not be bad places to be, for now I am just watching them fall but good companies like these will benefit when the economy turns.
also have been helping a friend who started writing options (mainly puts) last year did very well, this year has gotten destroyed. he wrote more options puts on a couple of companies that went against him. this is never a good idea. do not chase after losing investments, and I generally avoid dollar cost averaging down on stocks (and options), you can get in trouble in a hurry.
my goal is a 20% every year in my portfolio, it will be difficult to achieve that this year.
good luck dawgball,
thanks
selkirk
[This message has been edited by selkirk (edited 09-27-2001).]
as for the market I have just been sitting back, not doing to much. wound up most of my shorts last year
when in doubt I have sold a few positions. actually have some cash, which is rare. the portfolio will have always income coming in, by the way of the covered calls, and divs. currently option premiums are high because of the volatility.
Nasdaq has fallen hard but may take time to come back. people who fell in love with the sector will be selling on a rebound. still own some qqqs.
Energy companies, especially cdn. energy companies just seem cheap. of coarse a mild winter may make the sector fall further so I am making up a small list of quality stocks. many wild cards in energy economy,winter (how cold, mild). Also after Afganistan has been secured? they will find links to other countries. maybe Iraq, but maybe Sudan. Natural gas is cheap, but will oil recover longer out, oil may fall to $18 but should be able to hold around $22 (famous last words.)
financials stocks look interesting.
in general I am more bullish than I have been, but I will wait I do not have to pick the bottom.
At a large bookstore in 1999 they had almost half the back wall in investment and business books. plus special displays throughout the store.
2000 they moved the books to a group of shelves half the display size.
2001 Nostramdus sold more books in two weeks than the investment books probably will sell in the year. take away books about Warren buffet and written by (CNBC-staffers) and I counted 7 investment books, not counting the $3 bargain bin. there is hope.
finally when the economy turns stocks like Alcoa, Alcan, Inco, and other metal stocks would not be bad places to be, for now I am just watching them fall but good companies like these will benefit when the economy turns.
also have been helping a friend who started writing options (mainly puts) last year did very well, this year has gotten destroyed. he wrote more options puts on a couple of companies that went against him. this is never a good idea. do not chase after losing investments, and I generally avoid dollar cost averaging down on stocks (and options), you can get in trouble in a hurry.
my goal is a 20% every year in my portfolio, it will be difficult to achieve that this year.
good luck dawgball,
thanks
selkirk
[This message has been edited by selkirk (edited 09-27-2001).]
