SNV: Bought @ 12.35

Synovus Financial Corp. [[SNV]] Bring on the squeeze.

Note: A Fly favorite.

Yes, I said it.

If in fact we did bottom yesterday, then stocks are cheap here, real cheap. If your looking for a quick trade, then yes, grab your chart, grab you MACD, RSI, ect. But, keep in mind it’s hard to pass up this kind of value.

One of my top picks is VMware, Inc. [[VMW]] under $30, I’ll even take Freeport-McMoRan Copper & Gold Inc. [[FCX]] around $70.

I want to hear what you are looking at. Leave comment with stocks you believe present good value.

What a day, my best day year to date (so far). It feels great coming into a huge up day with nothing but longs. It helps because I don’t feel like I have to chase stocks in fear of missing out.

If you did miss the buying opportunity of a lifetime yesterday, check out Coach, Inc. [[COH]] , VMware, Inc. [[VMW]] , Amazon.com, Inc. [[AMZN]] — I still like them all right here.

Sells:

Took massive profits in Wachovia Corporation [[WB]]

Sold Legg Mason, Inc. [[LM]] straddle.

Take a look at Amazon.com, Inc. [[AMZN]] .

There are a few reasons why I like this play.

1. Golden Cross was confirmed today (50 day rising above 200 day).
2. Stocks will gap higher at the open, which should bring AMZN above it’s recent downtrend line.
3. A break in this trendline will also put the stock above the 50 & 200 MA, a recipe for BTFO.

There will be a lot of stocks I’m scared to buy on strength after today’s move, however AMZN is not one of them.

Note: It’s also Howard’s stock of the year, never bet against him.

What a day for traders! On a day when it was certain the market would crash, it actually recovered in a fierce way. We had stocks that gained 100% intraday! On top of that it was option expiration week, meaning if you believed the market would rally hard off the lows, you could make a small fortune with limited capital.

One of the best moves I made was selling everything I had on the huge open. This allowed me to clear my head, free up capital, and wait for my strike. Honestly, I did not anticipate to strike so soon, but when the time is right, it is right.

I waited to see if we could break 10,800 before making any moves. Once it was clear we would take out that level, I decided to make my move. I started buying AAPL immediately, followed by a bunch of names including MS & WB . Some I held, some were just intraday trades.

Before I get any further, it turns out Cramer’s MS & GS call was not all that bad. Funny how things can turn on a dime.

Back to the portfolio, these are the stocks I held in the long term portfolio:

Apple Inc. [[AAPL]]

Google Inc. [[GOOG]]

VMware, Inc. [[VMW]]

Freeport-McMoRan Copper & Gold Inc. [[FCX]]

Clean Energy Fuels Corp. [[CLNE]]

Visa Inc. [[V]]

Trading account:

Straddle in Legg Mason, Inc. [[LM]] (Oct 35puts, Oct35calls)

Long Morgan Stanley [[MS]] , short AXA (ADR) [[AXA]]

Call options in [[AAPL]]

Call options in Freeport-McMoRan Copper & Gold Inc. [[FCX]]

Bullish Vertical Spreads: Wachovia Corporation [[WB]] , National-Oilwell Varco, Inc. [[NOV]] , & Valero Energy Corporation [[VLO]] (bought calls while selling calls with a higher strike price– limited risk)

More than likely many of these position in the trading portfolio will be sold tomorrow. However, I plan to hold positions in the longterm account for the remainder of the year.

Just a few moths ago I would have loved to have GOOG @ 420, AAPL @ 124, VMW @ 25, CLNE @ 16, FCX @ 65, V @ 63. So I feel comfortable leaving this account as is.

Tech has been destroyed, one has to think the sector can catch that year end run– hey, just yesterday they tried to buy SanDisk Corporation [[SNDK]] . Also, take a look at Oracle Corporation [[ORCL]] after hours.

Today was a great day with huge profits as well as unrealized gains. Anything can happen at the open tomorrow, so I won’t get my hopes up, but my position is long.

Note: Shouts out to Pinoy Trader, he made an absolute killing today!

I bought AAPL, GOOG, VMW, FCX, CLNE, V, NOV, & NVDA

I have so much to say, but no time– look for a detail summary tonight.