Investment Capitalist

I’ve been slammed with emails from people wondering why no global macro commentary on the recent action. My response has been: “It’s far too late for commentary now. There’s nothing to do or change based on the market operation that was put in place when everyone else was screaming bloody murder”. In other words, as suggested, reload those positions and trade around based on your own personal leverage amounts. Each proprietary desk and each individual trader will have very different looking books.

But I will throw out a few of my absolute, back up the trucks, is this a real print, load the boat buy picks:

SLM:  Come on, below $18 is a steal. Watch for it to close Tuesday’s gap for adding or establishing positions.

FCSX: This is one of my favorite trading stocks and I know it well. It’s certainly not the most liquid stock and were someone forced to sell a large position around the time when Bear was in a free fall, there’s going to be blood on the street. But there is no exposure to this company and their profits are going to explode because this volatility is like a gold rush for them. Beautiful fundamentals.

FTO: A 50% retracement on a long-term uptrend that when looked at on a monthly logarithmic scale, it’s barely visible! But I think there’s more downside so look for a print in the low $20’s to jump on this one. Maybe even try to get off a short in the mid $30’s.

SNP: Chinese stocks have been getting routed hard and there is plenty of blood on the streets to warrant a deep and exhaustive examination of buying opportunities. This is the first significant correction this decade, although there were two other major pullbacks but nothing of this magnitude. It looks like a liquidity issue to me as the Chinese A and H shares have gone out of whack.

IBN: ICICI Bank, recent IPO, extremely volatile and high risk. Great buy under $40 from a fundamental perspective. I would worry about credit market exposure so keep it small.

 Tech stocks have popped up on several radars so here are a few names I like quite a bit:

Akamai (AKAM), Ciena (CIEN), Agilent (A), AVX,

I wish I had the time to write as much as some of you wanted me to.

Disclosures:  None