I have done the following some time back. I add very small portions at a time.
Dollar cost average. This way you do not get wiped out, alos you can regulate the buying intervals.
(1) Bought MRVL stock. sell Jan 2010 $10 calls, collect $1.70 . This gives protection to $7.20. Upside profit is more than 20%.
(2) Indian Banking is not as bad as US. There are two Indian banks I like
- HDB, IBN ( little risky but good returns).
(3) I like OIL: PETD, HAL are good ones. I see excess of 25% profit by the year end.
(4) I keep adding to SMH and some to USD.
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