I made a few moves today. Towards the close I sold May calls against my positions in Terra Industries (TRA) and Mosiac (MOS). I still like their long term fundamentals. Shorter term (next couple of trading sessions) I expect these stocks to come in a bit. I have been bullish on Mosaic for a 170% gain since October 3rd and have liked Terra (TRA) & Terra Nitrogen LP (TNH) for almost a year. I would be more than happy to get called out of these stocks at the strike prices I sold at.

The infrastructure boom cannot be ignored. I am currently holding McDermott (MDR) and Vale (RIO). Today I added Nucor Steel (NUE) to the portfolio. I also considered US Steel (X), but felt that Nucor is better managed (higher operating margins and return on equity) and is also less expensive based on forward earnings estimates. US Steel is also a bit more volatile with a Beta over 2.50. Nucor reports earnings before the open tomorrow.