Today I bought some JCP.  The stock has gotten pretty beaten up and is down near the lows of the last few years, and almost half off the highs.  I know perhaps JCP is an outdated model, but they have a good team in place and I think we could get a pop in the stock if the economy starts moving at some point.  So I would call it a pro-cyclical value play.

I also bought some more of my Muni ETF, MHN.  This is a spiced up way to earn NY muni income.  It is a bit leveraged which is why it yields 6% tax free.  I do not think the leverage will hurt however, unless short rates spike up.  I do not see that happening anytime soon.  Currently it is at parity with it's net asset value.  In the past I have preferred buying it at a discount of about 10% but over the last year or so it has been behaving much better and at times trades at a premium.  In fact if it gets to a premium of 5% I look to sell a bit.

I bought a little GOOG because it is a relatively cheap internet stock.  In addition, I bought soome BRCM which a friend recommended.  It was hit badly yesterday and really for no good reason.  It is trading near a local low and could be in for a nice up move if the market rallies.

This last I would put squarely in the spec camp.  The JCP is halfway between, wheras the MHN is a core holding of mine.