Now that's more like it. Guess who had the best porforming portfolio last week, gang? That's right. Me. Austin Carr, fictional stockbroker. My BankAmerica calls soared, and I sold at a profit of almost $2,400. And with bank news turning somewhat positive last week, Corkface's HBC puts (he switched mid-week) lost value, so Grandma and I really closed the gap.
Late last week, I bought an oldie but goodie, Image Entertainment (DISK) for $1.27 a share. It closed Friday at $1.43, and I think I'm going to get $2.75 a share for this puppy in two weeks when an already announced merger concludes. The merger's had a few ups and downs, but we think (unlike the market) that it's going through.
Corkface remains bearish. We think most stock prices have bottomed.
Join us anytime. Just leave your picks in the Comment section. You have $10,000 to spend.
STARTING WITH $10,000
(Holding, Value 3/16, and Total Portfolio Value)
20 June 20 puts HBC, 3,600
2000 shares MBRK, 2,640
250 shares TSYS, 2,160
Total Value 16,800
2000 OMEX 6,420
2000 DISK 2,860
Total Value 12,000
13 shares of SPY 989
Total Value 10,028