Monday, February 26, 2007
GE, AMZN and CSCO leaps
Today is more of the same of the last few days, which is a slight bias to the downside. Seems market is nervous about Cheney's comments about Iran made in an interview with an Australian newspaper and this is again reflected in higher gold and silver. The BKX or banking index is right back at it's crucial level of 119 and there is more and more talk of inflation in the air. Oil prices have been firming last couple weeks and some of the oil service stocks have been hot. I am trying to sell my GSF calls and have sold half of my position in CHK today, even though longer term I like these stocks. I bought some GE today and added a little to my GR position. Also added to my CSCO leaps which I have mentioned here as cheap. I have also ventured into AMZN today with a small position. Added some QQQQ and some SPY. I still think market goes higher and the last few days have given me better levels with which to buy. No idea what the market will do in the short term and risks still remain.
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