More ANIK and NOOF

No, debt, good earnings. I'm still waiting on Anika to come to market with Elevesse. I think they can do $18.00 without too much of a problem. At $9.25 I couldn't resist.

NOOF is very cheap right now. They're still making money and have no debt. I effectively doubled my position today at $4.69.

more Bed Bath and Beyond

Earlier this week I added to my position in Bed Bath and Beyond. The numbers look quite good and I think they're going to slingshot out of the recession very nicely. I'm looking for $41.00 currently at $28.25.

Spring Cleaning

Today I sold PALM - the earnings do not look like they are coming in and the industry is brutal. The Sale price was roughly 20% lower than purchase, but I took in that juicy $9.00 per share special dividend last year, so it's an overall win.

I also sold Eagle Test Systems (EGLT). The company is just treading water and I want to get ino something where more growth potential.

Sell OPMR

I sold OPMR this week prior to its one year anniversary. There were no earnings and it didn't look like it was coming back. Big painful short term loss....

Magic Formula Insider Trading: Early review of the magic formula inside trading strategy

Of note: Magic Formula Insider Trading: Early review of the magic formula inside trading strategy. We'll keep an eye on this site for ideas and comiseration.

MFI - The McGraw-Hill Companies

MFI purchase number two for the month: Home - The McGraw-Hill Companies. This is pretty far away from the tech/biotech/oil services industry that I seem to be heavy in lately. PE is around 13 and return on capital is good. Also, there's been some recent insider buying.

Purchase price 38.30. Earnings announce tomorrow morning...

While the getting's good

Following the Magic Formula rules, I sold Freeport-McMoRan Copper & Gold Inc. (Public, NYSE:FCX) this week, just after my one year anniversary. The result was a 70% gain. This is very satisfying, considering the carnage that is flying about.

I think the next couple weeks are going to be pretty ugly. I'll hold off on my second January purchase until next week.