"The S&P 500 Index (SPX) broke out to a new all-time intraday high today, while the Nasdaq Composite (COMP) hit its highest point in nearly 14 years," reported Schaeffer's Investment Research Senior Technical Strategist Ryan Detrick, CMT. "Funny how just three weeks ago, the world was ending and emerging markets were going to lead a sell-off. Well, now we are making new highs, so it looks like that was yet another freak-out by investors following January's 6% dip."

Today my investment in Vodafone VOD paid off in spades as shares of Verizon VZ were distributed and VOD went through a 6 for 11 share reverse stock split. Don't know when the cash part of the special dividend is to be paid, but all this looks good on my brokerage positions page. VOD is a good example of buying companies that hold great assets (a large % of Verizon Wireless) and have a business model that throws off plenty of free cash flow.

That's why I'm investing in Microsoft, using LEAP options. Today I bought OCT 18 14 $33 call and sold the OCT 18 14 $33 put to help offset the cost of the call. With a company like Target that reports Wednesday before the opening, I took a more defensive position by buying the PUT (TGT) TARGET CORP MAR 07 14 $57 and selling the PUT (TGT) TARGET CORP JAN 17 15 $55. If TGT disappoints on earnings, revenue and guidance the March put I bought will be rewarded if the stock goes down, and the $410 premium I collected for selling the January 2015 put is my immediate cash "dividend".

I'd encourage all investors and traders who have the inclination to learn how to use options, especially strategies involving selling call and puts. The sellers seem to make more money than the buyers on average. In closing, I'm wanting to buy Comcast CMCSA at $51 or below now that they have a deal with Netflix NFLX who will pay Comcast for direct access to its network. The deal should truly be "mutually beneficial". I already own Time Warner TWC and Liberty Global Media LBTYA.. I also own Disney DIS, so I'm inclined to ride another racehorse, CBS. These media giants are a great investment that the "Smart Money" is buying as I recently wrote an article about.

For more investment ideas and to see the kind of articles and investment themes that a "Stock Jockey" writes and invests in, please see my menu of recent articles I published at TheStreet.com. Wishing you good ideas and best results!