I bought some shares of TLM yesterday. This is a company that had some unusual options activity on Monday, so I have jumped in with a speculative position on the chance of where there is smoke there is fire. Also, it actually looks like a decent company, albeit in turnaround mode.
There is some irony that I bought the shares on a day where there was a lot of debate about illegal insider trading prior to mergers/acquisitions (Study Asserts Startling Numbers of Insider Trading Rogues). While I am 100% against insider trading as I believe that skews the market in favor of those with access to insiders; I can understand why people do it to get an edge. If you know a stock will pop 20 or 30% in the next week due to a buyout offer, you can certainly "get rich quick" through options.
I had another terrific day yesterday (even with drag of TZA) on both an absolute and relative basis. I am really starting to pull way ahead of the R3K.
Have a great Wednesday everyone.
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1 comment:
I'm in this one with you. A lower entry than uncle carl in the middle of restructuring/strategic review by Goldman is attractive to me.
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