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Mar 31, 2006 - Issue#002

Congress: Ultimate Inside Trader?

Well, this was the week we found out that members of Congress are allowed to act on "inside information". In fact, they've always been allowed to; they just never bothered to tell anyone. How nice for them.

That's got to be one of the best kept secrets around. No wonder the rich ones' are so willing to put up so much of their own money to buy their way in to the Halls of Congress; It's like a license to print money.

I knew they had great hospitalization and retirement plans, plus a lot of other great privilages as well, but this is the ultimate perk. I've really under estimated these guys. My hat's off to them. I've developed a new-found respect for my representatives.

On Wall Street, where the best kept secret is having a 15 minute head start, imagine what it must be like to be able to trade on inside info and not have to worry about being prosecuted for it.

They've just validated that our approach of following the "big money" is correct. I always knew it was but it's nice to be confirmed.

General Motors (GM) update:

The stock finally pulled back on Friday, 3/31, closing well off its $20.34 low for the day, going out at $21.27, +0.21 above the previous day's close accompanied by heavier volume, qualifying this as a "reversal" day.

This compares favorably with important prior low's of 3/3 ($19.02) and 12/29 ($18.33). Keep in mind, this in the face of "bad news" regarding Delphi.

The stock might be putting in a "significant" low. The upcoming week should tell the tale.

The option implied volatility (IV) is "screaming through the roof" so don't look to put on "buy premium" strategies effectively.

Sophisticated option sellers, on the other hand, have an abundant smorgasbord to choose from. If selling high volatility and buying back later when the vol calms down is your game, bon apétit.

Comments? Ideas? Feedback? Let me have it, right between the eyes! I'd love to hear from you. Just reply to this zine and tell me what you think!

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