Potpourri

Did anyone see Susan Byrne from Westwood Holding on CNBC this afternoon? She recommended three transportation stocks; OSG, BNI and YELL. I don't know whether these will work out the way she thinks or not but it was clear to me that she was giving us her real insight. She gave viewers both process and product. Compare this to Phil Dow from Dain Rauscher yesterday who picked GE, PFE, C and WFC because they are dividend plays. Thanks Phil.

There are two news CEF I'll mention. First is Nuveen Equity Premium Fund (JSN). The fund sells index options against equity positions to create yield. The other fund is from Claymore Securities called Advent Claymore Enhanced Growth & Income Fund (LCM). This is another covered call fund, but what is unique is that it will in part sell calls against bonds that convert into common stock. I first heard about this strategy in 1994, the desk I worked on had a client that did this. It is a very cumbersome strategy to try to do in individual client accounts but has more appeal inside a large fund. I like to watch these types of things for a while before making a decision either way.

Google earnings just crossed the tape. The first thing I see before I even read the report is the stock has taken back most of the four points it lost during regular hours, will it stick? I looked again and it is at $203, I guess it will stick.