MO used to be a core issue at $28, so did BA, but at current prices these are not. The core issues I am in right now are COO, PII , SKX , IGT, TBL and HAUP. Of these only HAUP is "hurting" (and should have been kicked out at $7.30, but for personal irrational reasons, I stayed with and even increased exposure. Those that play these by the rules (and many have) should be out of that one. The current core position is from $4.15 and I have few trading positions from $6.83 to $9.25. Earlier in April, the trading position did quite well, all these gains are gone and I am left with an average cost of $7.1, or a loss of 25% (and a full 2% of the folio on the trading position). Much too much, we all have "darlings" which in the past treated us very well (like the bu$$, and even MAGS) so I gave it too much of a leeway and continued to "change the plan" (very bad habit). The reason is waiting for the earnings, which I expected will be a blowout (I expect $.13). The technical behavior of the stock indicates that this might not be the case. But I am going to tough it out, actually add another position around $4.75 if it gets there, with a "take your lumps" on a print under $4.15. Why am I so stubborn? "They" did the same in May 1999, there was no short position, the stock blew out to around $38, MM's supplied the stock by shorting then brought it down hard to around $16 to cover and then with the earnings, it blew again (I played it better then, getting out before the fall, that was because I did not know enough on the company and obeyed the TA more than the FA). For now, I still think that a target of $14 is feasible. At least I know that the pain on that one should be over within a month, either out, or with a big smile (g). I also hope that by now Aupperle got rid of her 780,000 shares, apart of that, there was no inside selling in the stock recently (a puny 4000 by a director)
As for the general thesis on oil, and its impact on inflation, that is true in term of US$, in terms of the Euro, the impact is much smaller, and since crude has gone down by a factor of 2 in its impact on GDP (relative to the 70/80), I am not too worried for now, about inflation, that is more a two years plus out potential problem.
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