Some of the best stocks in the market are just too cheap to ignore right now:

• What about Goldman Sachs (as low as $74 today, come on??)
• Altria at $17 (under 16.30 at one point - has the world stopped smoking?) 
• GE traded to as low as $18.40 (back up the truck…even Warren Buffett liked it at $21)
• Apple has gone as low as $85 (but is starting to show a bullish trend here.)

Disclosure:  I am long all stocks mentioned 
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After a wild week and a plunge in the S&P 500 of more than 22% in just six trading days between Oct 2 - Oct 9….the question now is have we reached a bottom?  We had nice action to the upside on Friday after a the Dow reached below 8000 (yikes).  Even though we didn’t finish in positive territory, we only were down 128 points (that’s a win).  Historically Friday’s don’t mark bottoms…this one should be no different…but look for wild action on Monday.Stocks that Buffett recently bought are below even his cost basis at this point. It might be time to put your cash to work…. Check This Out!

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Will the bill pass the House on the second go around?  That is the question Americans are asking today.  After the massive selloff, a drop of 777 points, and frozen credit markets…it would appear that the House would see things a little differently now.  Buffett is betting on the passing of the bill buying Goldman and GE in large tranches….in times like this…what are you doing?
  
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Regional bank stocks are set to soar when the new bailout proposal passes.  From all signs, it looks like we should know about the new legislation later this week and probably no later than this weekend.  That being the case, keep your eye on banks like JP Morgan Chase and Wachovia.  Wachovia will really benefit from being able to clean up its balance sheet so I would expect for this stock to soar in the upcoming trading days especially with the ban on short selling.  

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Disclaimer: I am long WB and JPM 

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For the first time in Microsoft’s history the company is raising debt.  Steve Ballmer has gone on the record as saying he will not raise debt just for the sake of raising debt.  That being the case, I ask the question is Microsoft raising debt so it can position the company to buy Yahoo?  To add fuel to the fire, Carl Icahn takes his seat on the Yahoo! board today.  It’s something to think about…. 
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Disclosure: I am long YHOO 

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I sure hope you sold LEH when it hit $17 earlier this week, right before the KDB deal fell apart.  Now you are dealing with a stock with a 3 or 4 handle.  Well it looks like Lehman is now in a fire drill sale with other suitors.  Rumors broke late today that Bank of America was a potential suitor for Lehman…I look forward to the action tomorrow! 

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