Monday, August 9, 2010

Response to Immigration and Anchor Babies... Stock Moves....

August 9, 2010

Dear Mr. Davis: 

             Thank you for contacting me concerning the Birthright Citizenship Act of 2009, H.R. 1868. It was good to hear your perspective on this piece of legislation.

             As you may be aware, H.R. 1868 was introduced by Nathan Deal of Georgia on April 2, 2009. This legislation will amend section 301 of the Immigration and Nationality Act to clarify classes of individuals born in the U.S. who are nationals and citizens at birth. The bill was referred to the House Judiciary Committee where it has been referred to the Subcommittee on Immigration, Citizenship, Refugees, Border Security, and International Law for further review and consideration. I do not have the privilege of serving on either of these committees.

             As you may recall, during the 109th session of Congress, the House and the Senate approved different versions of legislation to address the problem of illegal immigration. I supported the House bill which forces employers to verify that their workers have come to the U.S. legally, calls for the erection of security fencing with lights and cameras along the southern border, and mandates stricter punishment for individuals who violate immigration laws.

             I do not support illegal immigration. Nor do I support rewarding those who have entered this country unlawfully. I will not lend my support to any bill that offers amnesty to illegal immigrants. I believe that Congress must continue its task of developing legislation that will address the enforcement problems inherent to our current immigration policies. I believe that securing our borders is foremost in this task.

             Once again, thank you for taking the time to contact me. Should you have any questions, please do not hesitate to contact me again. I remain,

                                                                 Very truly yours,

                                                                 Steven C. LaTourette
                                                                 Member of Congress

Stock Moves
I entered into a pricey contract on ADM 12/35s at .39.  Methinks we will get a heavy bounce in agriculture as increased global demand has reared its ugly head...  Let's face it, the U.S. can still boast of being the world's bread basket...

NEOP breached 2.10 today.  I picked up my first purchase at .73 but have been leery to increase my position unless it is done with monies from my ROTH... and the lion's share of those are...

Part of a turn-around effort at YRCW.  This is a bit of a gamble which, at .78 cents will double a portion of my little Robin's sized egg.  I lowered contribution to a retirement account to fund some of my own plays on the open market.  As of now, I am down mildly on this play with an entry price at .39.

D never ceases to amaze me.  This stock was channeling for a considerable period in which today it hit and successfully crossed through a key resistance point.

I successfully doubled my money on a 8/55 HBC play with a buy-in at .11 where my limit breeched .23 and doubled my money.  However, I did not knock with one dead as AX did on the BBB

Below C level...
I am soaked at a few smaller plays as of now, and am looking for one of these lovelies to be ITM before expiration, as it will make up for the losses on the other two.  Worst case scenario I will look to exit these positions if and only if it becomes economically feasible.

C 9/5s

HBAN 1/9s

CLWR 1/12.5s

Covered Calls... Going Twice...
As of yet, I still have procrastinated on entering into a more aggressive... yet less risky strategy of covered calls. I have been tempted to purchase SPY or something which reflects the market as in XLI, or even HP which in my humble opinion became a value stock as of today with the outing of Hurd.  I may even certificate D shares to increase my leverage and returns on OTM covered calls...  More to follow here.

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