Sunday, October 04, 2009

BAGAKOAA July 12, 2009


July 12, 2009

A couple of you did not get this note on Thursday before I left for Utah. So here it is:

Sorry if you blinked. My 5% gain (AA) was gone with in one hour I got out and broke even less my 8.95 to Chuckie Schwab. The market is really looking for direction and it did not get if from AA. BAC is due to announce so that will be interesting. Good day for IBM and TGT. BAC could be the next gamble and I am in at 11.78. I have a stop at 10.75. Let’s hope for an earnings surprise.

Good luck. This is beginning to get more like day trading every day. Keep an eye on MCD it is channeling again from a month ago at almost 60 its in the 56 range today and tracking down. I have a limit buy at 52.50 and I am hoping to trigger it before the end of August.

Salve Lucrum

Its now Friday night and I am in beautiful Utah. During the day I went longer on a few picks becuase of some depressed pricing. BAC, yes Ben back in the bank from hell at under 11.00. (I know at least three of you that have had this since the 20s and I was one and took my lumps at about 16. This is still a speculative gamble so don't use the retirment money on this one. It's just for fun.) GME, thanks to my kid I got in Game Stop loved the financials and forward looking statements, moat like compeitive position and got in and got in longer today on a 2% drop. Suggest you read about them and visit a store before putting the money in. Got longer on the drop of MDRX, as the Obama Health plan has $40,000 per physician who makes an effort to get into the digital age. All Scripts is one of the helathiest bets going. CL, if you can eat it, drink it, smoke it, or get it prescribed to you you it worth a look. AAPL, read a few upgrades at O dark thirty this morning and got longer on this beauty and picked up 1.72 a share today. Apple just keeps looking better and better. INTC, I got out of Intel about 7 years ago as all it did was channel between 17-22. They are now poised for a lot of hardware on the 3G network and should do well. I got out of the last of my oils today. I am intrigued by CHeveron andut a limit buy in at 59.00, with oil dropping, it should come down that far.

Had a conversation with one of you today about REITs. The commerical market is a mess. Anchor stores have gone bankrunpt or pulled out allowing all other tennants to legally leave their lease or aggressively negotiate new leases. This is leaving landlords desparate. It is roughly measured at a 1 trillion dollar bubble that is now bursting. If you are in an REIT, check to see what sector. Almost all stink. Take your lumps and get out. If you want to stay or get in an REIT look for one specializing in Medical services and medical manufacturing. It is the only REIT sector with any hope. I sent one of you a list of about 20 today if anybody wants the list, let me know.

I have added a new name back on this mailing list today. If you know of anyone who might appreciate this banter let me know and I'll put them on the list.

Remember, bulls make money, bears make money, pigs get slaughtered. Be on the look out for further corrections next week. I am now looking for an S & P of 860 and a dow of 7700-7900 by the end of next week. Hope i am wrong.

Salve Lucrum


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