I am going to start 2 new positions in names the hedge fund HAL9000 money is not that interested in. 

First, a stock I've mentioned a few times - effectively an Indian generic drug maker who is making big strides into the immensely lucrative U.S. market Dr. Reddy's Laboratories (RDY).  The relative strength has been excellent of late, and it is finally being sold down to near its 50 day moving average today.  The one caveat are 2 gaps in the chart below $28 and below $27, but again gaps in individual stocks need not fill ... or can take a long time.  Maybe they fill next week - who knows.  But I'll begin with a 1.2% stake and add on weakness.

Fundamental details on the company in the pieces below:

[Jun 1, 2010: Dr. Reddy's Laboratories Stock Continues to Impress]

[Nov 9, 2009: Dr. Reddy's Laboratories Impressive on Both Fundamental and Technical Basis]

Second, is a name I completely whiffed on - I mentioned Polypore International (PPO) about 6 weeks ago [May 20, 2010: Polypore International - Derivative Play on Electronic Battery Growth], and it has run...and run... and run... without me.  I've been impressed but grinding my teeth watching it move without my participation.  There was a gap in the mid $17s that had me waiting for it to fill (mu limit order at $17.50 now looks laughable).  The stock has only fallen to the 20 day moving average even with this traumatic market selloff, which is incredibly impressive.  I hope it falls more but I will begin a 1.5% stake here at the 20 day and look to buy more on a pullback.

Long both names mentioned in fund; no personal position