No. of Recommendations: 7
As others have said, it seems a little frothy here and I’m content pocketing a little beer money and waiting for another opportunity.
I think of it this way: to me, it seems unlikely in the extreme that today's price is the lowest we'll ever see in future.
The thinking is really only for tax sheltered accounts, of course.
Strangely enough I still have deep in the money long calls. In theory it would make sense to sell those and buy plain stock, because who needs leverage starting at today's prices? And I have a good-sized cash pile. But the rate of return embedded in the calls that I could realize is lower than the rate of return I'm currently making on that cash.
Jim
