{"id":279,"date":"2007-02-11T21:54:44","date_gmt":"2007-02-12T02:54:44","guid":{"rendered":"http:\/\/www.philstockworld.com\/members\/?p=279"},"modified":"2007-02-11T21:57:04","modified_gmt":"2007-02-12T02:57:04","slug":"long-term-trade-watch-2","status":"publish","type":"post","link":"https:\/\/www.philstockworld.com\/2007\/02\/11\/long-term-trade-watch-2\/","title":{"rendered":"Long-Term Trade Watch"},"content":{"rendered":"<p>Now is a good time to review our long-term virtual portfolio, we need to tee up some possible sales against our long-term positions as that was a pretty harsh reversal on Friday.<\/p>\n<p>This is my plan for the stocks we have open:<\/p>\n<ul>\n<li><strong>AIG <\/strong>(early March?)<strong>&nbsp;Jan &lsquo;09 $70s<\/strong> &#8211; basis $9.80, now <strong>$9.40<\/strong> (big drop from early gains)\n<ul>\n<li>If&nbsp;heading up &#8211; wait! <\/li>\n<li>If&nbsp;heading down &#8211;&nbsp;&nbsp;sell the $65s for $4,\n<ul>\n<li>buy back for $3 or less <\/li>\n<\/ul>\n<\/li>\n<li>If sideways movement &#8211; sell March $70s for&nbsp;.90 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>I still like this stock long-term and would buy more if it bounced off the 200 dma at $66.&nbsp; Falling 50 dma is $70.62 which broke down harshly mid-Jan. <\/p>\n<ul>\n<li><strong>AMZN<\/strong> (was 2\/1) <strong>July $37.50s<\/strong> &#8211; basis .45, now <strong>$4.40<\/strong>\n<ul>\n<li>Sold $35s against for $3.30, now $3.90 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>I expected a short-term test of the 200 dma at $35 and with a p\/e of 86 I&#8217;m very comfortable flipping my caller to March if I have to but we may be back at $37.50 by expiration, which would put us up .80 and maybe considering the March $37.50s for around $1.50 as we can always roll them to the March $35s if it sells off too much.&nbsp; <\/p>\n<ul dir=\"ltr\" style=\"MARGIN-RIGHT: 0px\">\n<li><strong>BA <\/strong>(was 2\/8)<strong> Jan &lsquo;08 $90s<\/strong> &#8211; basis $2.70, now <strong>$9.50<\/strong>\n<ul>\n<li>Unless the market is bouncing &#8211; may as well take .85 for the Feb $90s\n<ul>\n<li>that guy loses .17 per day and my worst cases are:\n<ul>\n<li>Buy him out on a dip and take a dime hit <\/li>\n<li>Roll him into a more expensive March call. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Sadly, as this is an up 228% position I will have to set a stop at $8.75, which should give me a look at the 50 dma at $88.70.&nbsp; Fundamentally, this stock is great, chart-wise, it has some problems and, if the market is weak, I&#8217;d rather come back and bargain hunt later.&nbsp;&nbsp;<\/p>\n<p>BA, LMT, NOC, RTN and COL are all in the running for a new arms race of satellite killing and defending technology now that China has proved they can shoot one down any time they want to.&nbsp; All have run-up lately and all need to be watched for buying opportunities.<\/p>\n<ul>\n<li><strong>BAC<\/strong> (was 1\/23) <strong>Jan &#8217;08 $55s<\/strong> &#8211; basis $2.90, now <strong>$2.55<\/strong>\n<ul>\n<li>$52.50s&nbsp;can be sold for&nbsp;.75, seems silly not to take the quarter\n<ul>\n<li>Like BA, worst case is roll or take a very small hit <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>They may sell off a bit on <a target=\"_blank\" href=\"http:\/\/www.marketwatch.com\/news\/story\/bank-america-faces-probe-muni\/story.aspx?guid=%7B3A9FE246%2D6484%2D4D1A%2DB5A9%2DE91F9D1F938B%7D&amp;siteid=yhoo&amp;dist=yhoo\">a bond probe<\/a> as BAC is going to have to pay&nbsp; a $14.7M settlement (ooh, scary!).&nbsp; The words IRS and SEC included with your ticker is never a good thing even when the article says things like &quot;<strong><em>very small fine and amnesty in exchange for ratting out your competitors<\/em><\/strong>.&quot;&nbsp; These guys ($236Bn, 10% growth)&nbsp;are a huge buy on the dip opportunity.&nbsp; Also, they don&#8217;t hold sub-prime so sector money should go their way as people get out of other lenders.<\/p>\n<ul>\n<li><strong>BEAV<\/strong> (was 2\/5)<strong> July&nbsp;$35s<\/strong> &#8211; basis $1.65, now <strong>$1.40<\/strong>\n<ul>\n<li>Selling Mar $30s for $1.40 if we break below $29.75 (now $30.01)\n<ul>\n<li>Obviously watching our buddy Boeing for direction! <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>This is a profit roll but I&#8217;m effectively taking a bear call spread with a little bit of time to be wrong.&nbsp; This is bear market contingent and I will absolutely buy this stock on a dip but the chart is in a bad place at the moment.<\/p>\n<ul>\n<li><strong>BSX <\/strong>(was 2\/1)<strong> Jan &lsquo;08 $17.50s<\/strong> &#8211; basis $2.50, now <strong>$2.60<\/strong>\n<ul>\n<li>Selling $17.50s for .20 unless this is above $17.50 before noon on Monday.\n<ul>\n<li>&nbsp;I have to confess, this is the EXACT same comment as last month! <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>It was a VERY big mistake to not take advantage of the recent spike to $18.50 at the end of January.&nbsp; Greed.&nbsp; Greed is bad&#8230;&nbsp; I&#8217;ll take the&nbsp;.20 on the $17.50s and be glad to get another quarter if it spikes on me by rolling to March (currently .55).&nbsp; If I&#8217;m really lucky I&#8217;ll get both!<\/p>\n<ul>\n<li>.<strong>CAT <\/strong>(was 1\/26)<strong>&nbsp;Jan &lsquo;09 $60s<\/strong> &#8211; basis $4.75, now <strong>$13.20<\/strong>\n<ul>\n<li>Sold Jan $60s for $1.55&nbsp;on&nbsp;1\/24,&nbsp;&nbsp;now $4.95 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>$66.50 is the falling 200 dma, they won&#8217;t break it in a down market so likely I will flip my caller&nbsp;to the March $60s (currently $5.35) at the very last possible second (an hour before close on Friday).&nbsp; <strong><em>If it breaks up over the 200 at $66.50, we need a whole new game plan on the fly as I&#8217;d probably be willing to take the $3.50 hit and sell the Mar $65s instead as they carry a 1.70 premium and always remember you are in the premium selling business here!<\/em><\/strong><\/p>\n<p><font face=\"Arial\"><\/font><\/p>\n<ul>\n<li><strong>CC <\/strong>(4\/4)<strong>&nbsp;Jan &lsquo;08 $22.50s<\/strong> &#8211; basis $3.73, now <strong>$2.95<\/strong> <\/li>\n<li>I&nbsp;SHOULD sell the Mar $22.50s for .60 (ridiculous premium) but I&#8217;d rather wait if there&#8217;s any hope at all it might hold up. <\/li>\n<\/ul>\n<p>I should be so happy to have made a comeback on this one from 50% down that&nbsp;I should just close it and go (we had 2 winners on this already as we loaded up AFTER the drop this one got caught in).&nbsp; On the other hand, everything that made me buy them at $25 is&nbsp;still there and I&#8217;m pretty comfortable that this stock is worth more than $20.&nbsp; <strong><em>This makes them perfect for new entrants too!&nbsp;<\/em><\/strong> <\/p>\n<ul>\n<li><strong>CC<\/strong> (4\/4) <strong>Jan &#8217;08&nbsp;$17.50s<\/strong> &#8211; basis $2, now <strong>$5.90<\/strong>\n<ul>\n<li>Sold Apr $20s for $1.75, now $2.45 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>This is why I don&#8217;t have to sell against the $22.50s, they are sort of my upside protection on a breakout but the whole purpose of the $17.50s was to bail out the $22.50s and that mission was accomplished so I locked in the proits by selling the Aprils, hoping for a little more gain.&nbsp; <\/p>\n<ul>\n<li><strong>COF <\/strong>(was 1\/18)<strong>&nbsp;Jan &lsquo;08 $75s<\/strong> &#8211; basis $5.90, now <strong>$13.80<\/strong>\n<ul>\n<li>Sold&nbsp;$80s for $1.45,&nbsp;now $2.40 <\/li>\n<li>Need to sell the March $80s, currently $3.50 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>If MA keeps going down, these will be hard to hold but COF is much more diversified than MA and their banking arm is the real star here (but their ads cause everyone to think credit cards first).&nbsp; The subprime issue weighs heavy on them though as they have aggressively attacked that market.&nbsp; Much of that risk is already priced in as the forward p\/e is 9.35 vs. 10 for most mid-sized banks.&nbsp; <\/p>\n<p>In a perfect world, the stock will drop to $80 next week, wipe out my caller, bounce off the 200 dma at $79.50 where I will sell March calls at $81.50, then fall back to retest the rising 50 dma at $79.&nbsp; How&#8217;s that for a plan?<\/p>\n<ul>\n<li><strong>DALRQ<\/strong> (???) <strong>&nbsp;Jan &#8217;08 $2.50s<\/strong> &#8211; basis .05, now <strong>.15<\/strong> <\/li>\n<\/ul>\n<p>This is just a silly play which I don&#8217;t even log the constant buying and selling of.&nbsp; I buy any time someone will sell them to me for&nbsp;a nickel and sell anytime someone will give me .30.&nbsp; Lately someone has been selling at .15 and messing up my game though&#8230;<\/p>\n<ul>\n<li><strong>DNA<\/strong> (was 1\/10) <strong>Jan &#8217;08 $85s<\/strong> &#8211; basis $11.25, now <strong>$11<\/strong>\n<ul>\n<li>If below $86.50 and bad market), sell $85s for $2.20 (.40 premium)\n<ul>\n<li>March $85 premiums are + $1.10 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>These guys beat top and bottom by 10% last month&nbsp;but the stock is&nbsp;up just $2 (2.5%)&nbsp;and this ($86.79) is $10+ below the second half of last year&#8217;s average.&nbsp; Income is up 50% from last year and is projected to&nbsp;be up about 30% this year.&nbsp; <strong><em>&nbsp;I still like these as an entry position and my biggest worry is that they get bought on me<\/em><\/strong>.&nbsp; If I were PFE or MRK I wouldn&#8217;t mess around with small fries&nbsp;and DNA would be my acquisition choice.<\/p>\n<ul>\n<li><strong>EXPE (2\/15) July&nbsp;$22.50s<\/strong> &#8211; basis $1.10, now <strong>$1.50<\/strong> <\/li>\n<\/ul>\n<p>I&#8217;m willing to go down in flames with this one unless oil takes off, then I&#8217;m out.&nbsp; The outrageous price of the current $22.50s (.35) makes for an interesting Mar\/Feb spread at a net of less than .50.<\/p>\n<ul>\n<li>&nbsp;<strong>FD <\/strong>(2\/27) <strong>Jan &lsquo;08&nbsp;$37.50s<\/strong> &#8211; basis $3.75, now <strong>$8.50<\/strong>\n<ul>\n<li>Sold $40s for $1.65, now $3.30 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Funny how last month I had to urge patience and suggest a DD opportunity on this one!&nbsp; They came back nicely without forcing us to put more money in (although I wish I did).&nbsp; Now it&#8217;s come a little too far from our&nbsp;1\/4 entry so we&#8217;ll have to decide on this one during the week.<\/p>\n<ul>\n<li><strong>FXI<\/strong> (n\/a)<strong> Jan &#8217;08 $110s<\/strong> &#8211; basis $5.60, now <strong>$10.90<\/strong>\n<ul>\n<li>Sold $105s for $1.60, now $1.50 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>These have been great but we will bid a quick farewell if Asia tanks on us (50 dma is $103).&nbsp; <strong><em>I&#8217;m very sad that it&#8217;s Sunday and I&#8217;m still worried about that but we are sitting on a nice little abyss in the markets if the global investor confidence bubble bursts<\/em><\/strong>.<\/p>\n<ul>\n<li><strong>HET <\/strong>(2\/27)<strong> Jan &lsquo;08 $85 puts<\/strong> &#8211; basis .50, now <strong>$2.30<\/strong>\n<ul>\n<li>Sold $85 puts for $2.25, now .30 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>This deal may take forever to close but I&#8217;m worried as&nbsp;someone on Friday bought 4,500 Jan &#8217;09 $95s for .80 &#8211; that&#8217;s a $360K bet that this thing will go somewhere.&nbsp; The March $85 puts are a very chincy .60 and I may decide to call it quits on Friday. [I just found out &quot;<em>chincy<\/em>&quot; is not a word but I refuse to accept it!]<\/p>\n<ul>\n<li><strong>HRL<\/strong> (2\/16) <strong>June $40s<\/strong> &#8211; basis $1.15, now <strong>$1.10<\/strong> <\/li>\n<\/ul>\n<p>This was really just a long call as an earnings play rather than an income producer.&nbsp; I am moving this to the short-term folder if it doesn&#8217;t get up to $40 ish by earnings.&nbsp; Even if it does, there&#8217;s still only a couple of months to sell and it may not be prudent to risk a double just to get another .50 or so.<\/p>\n<ul>\n<li>&nbsp;<strong>KMI <\/strong>(was 1\/17)<strong> Jan &lsquo;08 $105 puts<\/strong> &#8211; basis .95, now <strong>$1.25<\/strong> <\/li>\n<\/ul>\n<p><strong><em>More than anything this play is a gamble on the deal blowing up and the stock falling back to $80.&nbsp; It&#8217;s very unlikely and the stock has drifted out of our sweet spot for selling more calls so the risk of holding is now severe!<\/em><\/strong><\/p>\n<ul>\n<li><strong>KO <\/strong>(2\/14)<strong> Jan &#8217;09 $50s<\/strong> &#8211; basis $4.10, now <strong>$3.70<\/strong>&nbsp; <\/li>\n<\/ul>\n<p>This was a small entry ahead of earnings in case it got away from us.&nbsp; That&#8217;s looking far less likely now!&nbsp; Hey, it&#8217;s Coke &#8211; this is a safety stock, even if it drops I&#8217;ll be filling after earnings as a long-term income producer.&nbsp; If this&nbsp;stock goes down below $40, we will have a lot more to worry about than these calls!<\/p>\n<ul>\n<li><strong>LEN <\/strong>(was 1\/17)<strong> Aug $45 puts<\/strong> &#8211; basis $1.46, now <strong>$1.50<\/strong> <\/li>\n<\/ul>\n<p>This started on 1\/4 as a regular position and we entered this with the stock at $50 for $2.35 but we got a second round at $1.50 and a DD opportunity at just $1 followed by a 1\/2 out at $1.50 last week.&nbsp; With this new basis, I am very confident in this position but I will sell calls against it as we test the 200 dma at $47.50 &#8211; hopefully soon!<\/p>\n<ul>\n<li><strong>MOT <\/strong>(was 1\/19)<strong>&nbsp;Jan &lsquo;08 $22.50s<\/strong> &#8211; basis $1.78, now <strong>$1.30<\/strong> <\/li>\n<li><strong>MOT<\/strong> (was 1\/19) <strong>Jan &#8217;09 $17.50s<\/strong> &#8211; basis $4, now <strong>$4.90<\/strong> <\/li>\n<\/ul>\n<p>I bought the $17.50s to rescue the $22.50s, which were a disaster at one point.&nbsp; That&#8217;s done and if the stock goes below $19.50 (as it&#8217;s running into a falling 50 dma at $20) I&#8217;m just going to kill it &#8211; certainly the $22.50s if not the $17.50s as I can only sell the Mar $19s for $1 and that&#8217;s not enough to protect them both.<\/p>\n<ul>\n<li><strong>MTU<\/strong>&nbsp;(was 1\/31)<strong> Jan &#8217;08 $12.50s<\/strong> &#8211; basis $1.45, now <strong>$1.10<\/strong><\/li>\n<\/ul>\n<p>Timing was not our friend here as they&#8217;ve had a few incidents regarding <a target=\"_blank\" href=\"http:\/\/online.wsj.com\/article\/SB117027244243194010.html?mod=yahoo_hs&amp;ru=yahoo\">various shenanigans<\/a> at this aggressive Japanese investment bank and the quarter was not good.&nbsp; This was an early entry gone bad and it was a bad decision not to sell the&nbsp;barely in the money&nbsp;$12.50s ahead of earnings&nbsp;for .60.&nbsp; <\/p>\n<p>The&nbsp;catch phrase of the Long-Term Virtual Portfolio is &quot;Sell early, sell often&quot; meaning take EVERY opportunity to sell calls or puts against your position.&nbsp; The minute you are playing these&nbsp;naked into earnings, they should be treated like any other short-term positions, played with much&nbsp;smaller amounts of cash.<\/p>\n<p>As this was just the initial position for me (anything uncovered is 20% in max!) I&#8217;m more inclined to just wait and see if I can get a DD for .80 (doubt it) or wait for a recovery to add more and sell $12.50s against in the .50 range.<\/p>\n<ul>\n<li>&nbsp;<strong>PGR <\/strong>(???)<strong> Jan &lsquo;08 $25s<\/strong> &#8211; basis $2, now <strong>$1.60<\/strong> <\/li>\n<\/ul>\n<p>It&#8217;s OK that this one isn&#8217;t working out.&nbsp; The insurance stocks only start working when the rest of the virtual portfolio is on its way down.&nbsp; PGR has gone from explosive growth in &#8217;02, &#8217;03 to no growth since &#8217;04 which is just what I want for a year of selling calls against.&nbsp; The stock is at the wrong price for selling calls at the moment so I&#8217;d like it to either go up or down soon.<\/p>\n<ul>\n<li><strong>SCI <\/strong>(2\/28)<strong> Jan &lsquo;08 $7.50s<\/strong> &#8211; basis $2.15, now <strong>$3.65<\/strong>\n<ul>\n<li>Stop set at $3.25 <\/li>\n<li>This is not an income producer, the low premium made the call attractive vs. the stock. <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>The flip-side safety of insurance plays is death.&nbsp; SCI is the nations largest funeral service now that they bought AWGI and are in the process of selling off part of their operation to clear anti-trust issues with the FTC.&nbsp; This will leave them flush with cash and in a great position to cut costs so, if they do pull back, I&#8217;ll be out and back in.&nbsp; Don&#8217;t let their income fool you, this company tossed $107M into cash last Q, $189M for the year so far, leaving this $3Bn company with $636M in the bank against $1.2Bn in debt against 2,000 funeral parlors and 300 cemeteries<\/p>\n<ul>\n<li><strong>SHLD <\/strong>(3\/1)<strong>&nbsp;Jan &lsquo;09 $190s<\/strong> &#8211; basis $30, now <strong>$34.50<\/strong>\n<ul>\n<li>Sell&nbsp;Mar $180s for $9+ <\/li>\n<\/ul>\n<\/li>\n<li><strong>Buy&nbsp;June $185s for $12.20 &#8211; Sell Mar $180s for $9+<\/strong> <\/li>\n<\/ul>\n<p>I&#8217;d love to go naked into earnings on this one but the man is willing to pay a $7.50 premium for the Mar $180s, that&#8217;s over 4% for a month.&nbsp; <strong><em>Any time someone is willing to pay you a 50% annual premium for a stock, it is your job to figure out how you can let him&nbsp;do that!<\/em><\/strong><\/p>\n<ul>\n<li><strong>SNDK <\/strong>(1\/30)<strong>&nbsp;Jan &lsquo;08 $40s<\/strong> &#8211; basis $6.00, now <strong>$7.50<\/strong>\n<ul>\n<li>Sold Jan $40s for $3.40, now .90&nbsp; <\/li>\n<\/ul>\n<\/li>\n<li><strong>SNDK <\/strong>(1\/30)<strong>&nbsp;Jan &lsquo;08 $40s<\/strong> &#8211; basis $5.95, now <strong>$7.50<\/strong>\n<ul>\n<li>Sold Jan $40s for $3.40, now .90&nbsp; <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>That worked out just fine in the end!&nbsp; We thought it got away from us but it came back nicely and killed off our caller.&nbsp; We still have a .60 premium to work off on the calls we sold so no hurry but the March $40s are a nice $2 with reasonable downside protection, even for a semi play!<\/p>\n<ul>\n<li><strong>STN <\/strong>(2\/28)<strong> Jan &lsquo;08 $80s<\/strong> &#8211; basis $1.70, now <strong>$7.00<\/strong> <\/li>\n<\/ul>\n<p>This is tricky as the deal WILL go through at $82 a share so we are playing a timed game.&nbsp; The March $80s are $4.50 and if the stock closes at $82 we get $2 for our calls and have to pay $2 back to our caller for a net of $4.50 vs. $7 we collect if we just shut this trade down now.&nbsp; OK, I&#8217;ve convinced myself&#8230;&nbsp; <strong><em>time to move on and sell this one!<\/em><\/strong><\/p>\n<ul>\n<li><strong>TIE June $35s<\/strong> &#8211; basis $1.70, now <strong>$3.10<\/strong>\n<ul>\n<li>Sell Mar $35s for $1.30&nbsp;on any&nbsp;turn (.30 trail)&nbsp; <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>This is&nbsp;a roll off huge profits, no need to get greedy here but no sense not selling the $1.75 out of the money Mar $35s for 65% of our basis!&nbsp; Again, here&#8217;s a guy willing to give you almost 10% premium for 30 days, that&#8217;s a 120% annual return on the full price of the stock &#8211; take it!&nbsp; Watch ATI for danger signs and, of course BA.<\/p>\n<p><strong><em>I&#8217;m also not too keen on leaving&nbsp;a Boeing Buddy uncovered as we have 3 BB bets in the LTP (plus AIR in the short-tem) and that is not sector smart!<\/em><\/strong><\/p>\n<ul>\n<li><strong>TXN Jan &lsquo;09 $30s<\/strong> &#8211; basis $3.70, now <strong>$6.50<\/strong>\n<ul>\n<li>Sold Apr $30s for $1.50, now $2.11 <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Nothing to do with these but wait and see&#8230;<\/p>\n<ul>\n<li><strong>WFR&nbsp;Jan &lsquo;08 $50s<\/strong> &#8211; basis $9.40, now <strong>$11.50<\/strong>\n<ul>\n<li>Sold&nbsp;$55s for $3.40, now .35\n<ul>\n<li>&nbsp;Either roll to Mar $50s for $4.50 or $55s for $1.75 depending on market (SOX) next week <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>I&#8217;ll be very surprised not to sell the $50s as it would take a strong jump to bullish sentiment for me to accept the far lower protection of the $55s.<\/p>\n<ul>\n<li><strong>XOM Jan &lsquo;08 $72.50 puts<\/strong> &#8211; basis $5.20, now<strong> $4.20<\/strong>\n<ul>\n<li>Need to sell Mar $72.50 on next dip ($1.50+) <\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>I waited too long on these.&nbsp; Back to rule number one, I treated it like a bet instead of an investment so shame on me!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Now is a good time to review our long-term virtual portfolio, we need to tee up some possible sales against our long-term positions as that was a pretty harsh reversal on Friday. This is my plan for the stocks we have open: AIG (early March?)&nbsp;Jan &lsquo;09 $70s &#8211; basis $9.80, now $9.40 (big drop from [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45,1,11],"tags":[],"class_list":{"0":"post-279","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-appears-on-main-page","7":"category-uncategorized","8":"category-portfolio-review"},"_links":{"self":[{"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/posts\/279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/comments?post=279"}],"version-history":[{"count":0,"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/posts\/279\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/media?parent=279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/categories?post=279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.philstockworld.com\/wp-json\/wp\/v2\/tags?post=279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}