Update #075 August 16, 2007
The markets have been tanking which has been great news for some of our non-equity positions. These positions are in the Master List exactly for times like this.
The Yen ETF (FXY) has soared very quickly as the carry trade unwinds with an attitude. We may see more unwinding, but I want you to place stops (stop limits or mental stops as discussed in the issues) 1 and 2 (H1, H2) on the FXY at 87.4 and 86.4. The Japanese may intervene to lower their appreciating currency, since more expensive Hondas and Toyotas will serve to damage their export economy.
Also, raise your target buy price on Myriad Genetics (MYGN), which was initially 36.2, to 40 for the first half, 38.2 for H2 (enter the position in 2 legs). A very positive article came out right after the August issue trumpeting Myriad as the possible cure for Alzheimer's for all the reasons I mentioned in the write-up and the shares soared before you were able to get in. The shares are currently about $42, down from their recent peak near 45 with the overall market weakness.
Wyeth, our other Alzheimer's play, has dipped a good bit also since we added it to the Master List and I want you to add to your position at these discount levels. Buy 25 more shares (total Master List position will be 80 shares) at 45.6 or better.
Jeff Manera, Superstock Investor
As always, please send me an email with any questions or suggestions: email@example.com