AIG / NYX

AIG blew its numbers away. However, watching the share price rise is like watching paint dry. It hit 69.97 early today, while I was away from my desk, then dropped down to 69.50'ish, now it's been raising at a snails pace. I hope to sell 30 shares at 70 today. Hell, I may sell all of it at 70. I know the stock still has some upside left, and it's a stable investment, but I need faster action. I need NYX. Up huge today, I've made close to 10 points since I started my position. Wow, Cramer got that one right, bigtime.

Once I sort out AIG, my portfolio will be set for the next two months. With the drop in copper prices, I dumped LMC from my Roth IRA account and picked up ORCL. I'd still like to have some exposure to commodities, and I think LMC is still a good investment, but I'm not willing to suffer the short term consequences of owning a copper mine while copper is going down. A gold stock, like Yamana, may be a good choice, and a nice hedge on inflation, but at this moment tech is hot, so I'll stick with ORCL.

Drug stocks continue their free fall. I’m watching SGP and ARNA, if SGP drops below 20, I may pull the trigger and start a position. One angle with ARNA, if its share price is depressed enough, it may become an attractive takeover target. I think, with the Democrats in office, and P/E’s depressed, we may see some consolidation in the drug companies. Biotech may do better than big drug, DNA and AMGN could be attractive.

I’m not very knowledgeable on the drug’s and biotech’s, so I’m hesitant to place a big bet in this sector, but I have enough conviction with SGP to pull the trigger. DNA, AMGN, and ARNA would be more speculative, but if they start to look more attractive I may do a bit of research and see if any are interesting.