Saturday, May 17, 2003

To honor the dumbest kid I grew up with, lets go with Foufas Warrior in todays Preakness. At 20-1 you can do several things to bet him. For $10 you can bet him to Win, Place, and Show ($6 bet) and box him in the exacta with Kentucky Derby winner Funny Cide ($4 bet).

Thursday, May 15, 2003

Disney sold the World Champion Anaheim Angels for $185 million today. The entire team = $185 million. Ten years of Alex Rodriguez costs $255 million. The Texas Rangers I am told are worth less than the Angels. So who is better off Alex Rodriguez or the owner of the Texas franchise? A-Rod has a risk free deal--his owner can't say the same. But as in any mania---Stocks, gold, tulips the ridiculousness always comes out, and this my friends is no exception!

Wednesday, May 14, 2003

As SNE has moved up so has our sell stop. We have increased it to $23.90 from $22.90. Always move your sell stop up to lock in profits, never move it down. If people did this in the bull market, there would be no lawsuits.

Tuesday, May 13, 2003

A good point to take profits from this powerful rally off the lows is the 960-965 area in the S&P 500. There seems to be long term resistance in this area. And it is also a good reference point to start loading up on some shorts.

Monday, May 12, 2003

Our Model Portfolio to Date:

Long AETC @ $2; current price $1.91- Hold
Short IGT @86; covered at $89.05 for a $3.05 loss
Short MTG @47.05; current price $46.68-Hold; sell more below $45
Long GLW @$5.50; current price $5.90-Hold
Long SNE @$24.50 and $24.75; current price$24.53-Hold/Sell stop below $23
Long KROL@$23.75;current price $24.25-Hold