It's that time of the month again. Here's what I've done lately to try to make some money.
My shares of IAU finally went through the strike price of my covered calls. Wow! I've decided to walk away with several years' worth of capital gains and leave gold mining stocks as the sole "gold hedge" in my portfolio. I like bullion ETFs but I needed to free up some cash for potential equity purchases in the next few months.
Speaking of GDX, I did sell some off but I continue to write covered calls on the remainder.
I sold off some FXI and wrote calls on the remainder. I also sold cash-covered puts under FXI because I don't mind buying back what I sold at a lower price. I'm still bullish long-term on China but there may be a cause for concern behind recent talk of bubbles in Chinese stocks and property.
I've decided that I like the possibility of going long a couple of transportation-related stocks. I think Kirby (KEX) and Tidewater (TDW) have good long-term potential, but I'm not ready to buy them just now as I expect the broader markets to correct in the near future. I wrote cash-covered puts under both KEX and TDW so that when Mr. Market does decide to disappoint most everyone else, I'll end up buying two stocks I like at a discount to today's prices. My holdings of KEX and TDW will be an application of my focused value approach. I did my homework on both of them.
I maintained my long position in ANV and my cash-covered puts under it. They've turned a corner and I still think they have tremendous upside potential.
I also decided to hedge two bubbles that I think have formed in defense spending and real estate. I bought puts against LMT and IYR in the expectation the markets for both advanced defense goods and commercial real estate will sink between now and 2011.
That's all for this month.
My shares of IAU finally went through the strike price of my covered calls. Wow! I've decided to walk away with several years' worth of capital gains and leave gold mining stocks as the sole "gold hedge" in my portfolio. I like bullion ETFs but I needed to free up some cash for potential equity purchases in the next few months.
Speaking of GDX, I did sell some off but I continue to write covered calls on the remainder.
I sold off some FXI and wrote calls on the remainder. I also sold cash-covered puts under FXI because I don't mind buying back what I sold at a lower price. I'm still bullish long-term on China but there may be a cause for concern behind recent talk of bubbles in Chinese stocks and property.
I've decided that I like the possibility of going long a couple of transportation-related stocks. I think Kirby (KEX) and Tidewater (TDW) have good long-term potential, but I'm not ready to buy them just now as I expect the broader markets to correct in the near future. I wrote cash-covered puts under both KEX and TDW so that when Mr. Market does decide to disappoint most everyone else, I'll end up buying two stocks I like at a discount to today's prices. My holdings of KEX and TDW will be an application of my focused value approach. I did my homework on both of them.
I maintained my long position in ANV and my cash-covered puts under it. They've turned a corner and I still think they have tremendous upside potential.
I also decided to hedge two bubbles that I think have formed in defense spending and real estate. I bought puts against LMT and IYR in the expectation the markets for both advanced defense goods and commercial real estate will sink between now and 2011.
That's all for this month.
