Lately I have been emphasizing the benefits of exploring Stockpickr.com for investment opportunities. One portfolio that's always fun to check out is super-investor Warren Buffett's.

After

Berkshire Hathaway's

(BRK.B) - Get Berkshire Hathaway Inc. Class B Report

annual meeting last week, investors gained a little more insight into Buffett's investment strategy. He disclosed investments in

Burlington North

( BNI),

Norfolk Southern

(NSC) - Get Norfolk Southern Corporation Report

,

Union Pacific

(UNP) - Get Union Pacific Corporation Report

,

WellPoint

(WLP)

. (Three of those are railroad companies.)

Lately, companies that build railcars have benefited from Buffett's interest in the railroad industry, and

American Railcar Industries

(ARII) - Get American Railcar Industries, Inc. Report

represents

TheStreet Recommends

Carl Icahn's venture in railroad.

When these two super-investors both invest in the same industry, investors should take note. The next step for railroad companies will be to invest in their infrastructure. While North American railroad companies have invested in their infrastructure, it's been years since these companies have seen significant amounts of new investments.

Railcar-equipment manufacturer

Greenbrier

(GBX) - Get Greenbrier Companies, Inc. Report

has yet to partake in the bullish run of the railroad industry. The stock is trading at around $27, well below its highs. I would look for the stock to once again gain support and break out.

This movement of cash toward the railroads should create profitable opportunities for investors. I plan to use deep in-the-money (DITM) calls to capitalize on Greenbrier's potential boost from the bullish sentiment in the railroad industry. I have a limit order in to buy 10 December 20s (GBXLD) at $8.30, or better.

Now let's field those emails.

Lenny, I like your column and have become very interested lately in theDITM strategy that you use. Call me skeptical, but do you ever lose? Everytime you put your Scoreboard in one of your columns I always see a long list of companies and every single one of them says that you have had at least $1,000 win. Do you just not print your losers on the Scoreboard or do you really never lose? Thanks again for all you do!

I will be the first to admit when I lose. The fact of the matter is that at this point in time, all of my deep-in-the-money selections have filled for a gain of at least $1,000. While some might call this the benefit of a bullish market, what it really comes down to is finding the proper balance between risk and reward. I choose investments that take minimal downside risk and offer great potential upside reward.

Lenny, I understand that the DITM call strategy requires patience. However, my question is, at what level would you consider averaging down on a DITM position? Thanks for your help and keep up the good work.

Thanks for your question. This is a key point in winning with my DITM strategy. I "dollar cost average" down when stocks hit certain support levels that are backed up by the moving average, such as the 21-day, 50-day, 200-day moving averages.

Dear Mr. Dykstra,Do you actually purchase and own all the DITM calls that you pick and describe in your daily report that meet your purchase price or are they just suggestions for us viewers to consider.

This is a great question, and I am proud to say: "I practice what I preach." The bottom line: Yes, I buy each selection if the limit order is filled, as this is the strategy I believe in as a stock substitute.

Lenny, Thank you for all of your articles and suggestions. Your articles resemblethe tight swing that you brought to the bigs. One question: In your experience, when you buy your deep-in-the-money calls, how much does the underlying stock have to move before the call option hits your $1 limit order?

Thank you for the question. Generally, the common stock has to move approximately 1 point higher to get filled with the $1 limit order above the purchase price. But the majority of the time when we hit our target -- $1 limit order above our buy price -- it is with a move slightly greater than a dollar. This is for a simple reason: We are deep in the money, with ample time before expiration.

Always remember: Life is a journey, enjoy the ride!

At the time of publication, Dykstra had no positions in stocks mentioned.

Nicknamed "Nails" for his tough style of play during his Major League Baseball career, Lenny Dykstra was an integral member of the powerful Mets of the mid-1980s, including the world champion 1986 squad, and the Phillies in the early 1990s.

Today, Dykstra manages his own stock portfolio and serves as president of several of his privately held companies, including car washes; a partnership with Castrol in "Team Dykstra" Quick Lube Centers; a state-of-the-art ConocoPhillips fueling facility; a real estate development company; and a new venture to develop several "I Sold It on eBay" stores throughout high-demographic areas of Southern California.