new purchases

Well, I have been away for a time, focused on other stuff, will try to be more up to date with my postings in the future.
Anyways, I am back in on SLM calls, March $10 strike, after making some good money on the Jan calls. The TALF program will be a big boost for these guys, I believe, and that should be up and running soon, I hope. I also bought today ACE, a stock I love that is trading at book with large unrealized losses, most of those should come back, and in any case the stock should trade at a premium to book.
Also bought some XL, and COF. XL is speculative, it is really cheap, and I prefer taking a chance with a company hit hard by securities losses, than a bank with accrual loan losses that I htink will be getting worse. GS and MS have rallied hard because of their MTM assets, and XL has the chance to double. It is up 55% today, but I did not get all of that. COF is well reserved, and CC receivables will be supported by TALF. I like this company and think it has potential going forward, I think the CC losses are more transparent and analysable than CRE and C&I, and am more comfortable with their book vs. other regional banks.