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It is definitely ugly out there and it definitely “feels” like buying today is the wrong to do. Which is exactly why, as I explained in today’s column from marketwatch, I just started scaling into some 2012 Corning calls. And yes, this time I am starting with slightly out
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I’d rather have a huge down day than a huge up day to start buying, no? Am sitting tight with just the two trades on the sheets for now. On another note, here’s a column I wrote for my blog on Marketwatch about my approach for re-building my
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I bought the Cisco calls, but they’re the January 13, 17.50s — slightly in the money, not out of the money — because they at $3.30 they’re a better buy than the $20s at $2.25. I’ve got good Cisco upside leverage til January 2013 and a cost basis of about $20.80.
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Okay, let’s rock. But let’s get started slowly. Looking to invest only 10-20% of my capital this week. Buying a little bit of NUAN common stock now. Will buy some slightly-out-of-the-money calls expiring in 2012 in Cisco too. Easy does it for now.
