Hudson City Bancorp

Okay, today I've actually made plans in the middle of the day so that I'll be forced to only trade a half day.

Meanwhile, not sure if anyone has noticed, but I removed the Stockalicious thing from my site. Really... who was checking it? I'm awful at the long-term stuff. However, that said, I'm very happy with how my GAIA has held up during this period of market turmoil.

Also, yesterday I purchased a little HCBK. I feel very responsible purchasing a bank stock in my long term portfolio. Banks aren't a fad.



Anyway, here's what I like about it. Check out all that volume that has come into the stock in the last 5 weeks. Basically, it is being accumulated by institutions. That's what volume like that tells you. Your run of the mill retail investor isn't purchasing bank stocks in the middle of the media frenzy over sub-prime. The stock is pennies away from an all-time high. However, look at a monthly graph and you'll see this stock isn't a "growth" vehicle. This is a safety play.

The stock was featured yesterday on CNBC. However, a friend of mine who is very successful in real-estate mentioned it to me a few days earlier. He said that it was the only bank he knew of that didn't sell it's mortgages.

So, if the polar ice caps don't melt and sink the US in the next 100 years, I plan on passing this stock onto my great-great-great grandchildren... that is assuming all of my children don't turn out to be gay.

DISCLAIMER: This post should not be taken as a recommendation for you to purchase any securities mentioned within. And, unfortunately, the polar ice caps are going to melt and all of my children will all turn out to be gay so I will not have any financial responsibility in 30 years. Therefore I can throw my money around purchasing "risky" stocks like HCBK.