MoneyMiser Picks

Well that's 2 days in a row where orders didn't execute at the price I wanted. And my Morgan Stanley trade suffered because of it. I don't see the financials rebounding in the short-term from the profit taking today, so I'm selling MS.

Well looks like Jeff Macke was correct on GLD. I was wrong. Dennis Gartman is major league worried, so I'm dumping my GLD.

There are a couple of intesting trades to be had due to stocks nearing their 52 week lows:

Verizon & Merck.

Verizon's news that they'll open their network up to more devices may be a long term bullish move, given their video downloading dominance. I'll but on that news.

Merck, well it's been beaten down, and due for a short-term turnaround. Pete Najarian likes it as well. So I'm in for a little bit of Merck as well.

FCX is interesting because of the pummeling it took todya as well. Guy Adami said on Fast Money that the psat few times FCX dipped into the 80s it was a buy. With an 11% move down just today, I think that offers a nice speculative cushion to begin building a position. I'm dipping my toes for $10,000 of FCX in the SLO2.

Which is more intersting: Monsanto down nearly 12%, or Potash down nearly 11%? Either way, they're starting to come down to buyable levels.

Down seems to be a recurring theme, so I'am beginning a DOG position. I should've put it on yesterday, but oh well.

Altria looks like it might be a fairly safe defensive play here around $70. So I'm in.

Also, BUD looks like its getting close to turning the corner. I'll double down on my BUD position.

I'm not certain if I should be disappointed in myself for not selling my YUM position today. It lost half of what it's earned for me today, but everything is volatile as heck these days.

I also spotted what I believe to be a bit of a bargain in a forum favorite. Sirius dropped to $2.75 last week. And just about any time it dips below $3 it's a buy, so I'm in for a little bit, nothing too much though.

I think I've identified a trading range for Ford as well. I'm waiting for a triple confirmation signal before getting in though.

Comments: View Comments |  Wednesday March 19, 2008