The Company liquidated its Jan GE paper for a good profit. I am on vacation and don’t feel like using a calculator but it was about 100-150% profit.

We are holding our March paper and the plan was to liquidate either today or Dec 27. Both don’t look like it’s going to happen. I’m looking for GE at 20 and am confident it will pay. This paper comprises about 50% of the Company’s assets currently.

I like Alcoa, although it’s in a downtrend. The important thing to recognize, I think, is that fear is giving us deep value on blue chip stocks. Such as GE. I anticipate the rally might have a spurt the first week of Jan but we might have seen the end of the Christmas rally. Seasonally there should be a mid-Jan dip. This would be the time to sell iron condors, because of high volatility netting higher premiums. Also this would be the time to think about GE, AA, FAS. It is important to bear in mind that in the presidential year cycle, this should be an up year (2012, that is).  Now, the market has not been entirely behaving according to schedule but in the long term, the intelligent speculation would be an up year. Also I think the euro is way oversold, which means a drop in the dollar, which should correspond to a rally in the SPX and DJIA.

If within the next week or so my GE position magically gets to 19 or 20, I may liquidate, because I will have an acceptable profit, and I anticipate a somewhat range-bound market for the next 2-3 months, so I would like to place iron condors.