Trade Alerts:
So much for the first short. Closed out on Friday at ~$23.75 for a small loss. Some insider purchased quite a bit on Thursday - why is beyond me, but I wanted to purchase more of the internet corp anyway, which I did. I still intend to purchase more of that one, maybe today - but I will wait until EOD to see where we are.
First short in a long time. No pun intended. Took some RSbH last night ~ $23.55. Reason: lousy earnings, cell phone craze is not what it was, they consistently disappoint, chart looks like she wants to continue to trend down, resistance looks somewhere under $25, and last, but not least, from the Warren Buffett/Peter Lynch train of thought regarding the the concept of a "circle of competence:" In short, (yeah, pun intended) I have never, ever been impressed with any of their stores. One more thought to add to this: I made a stupid mistake in terms of the trade. I saw that the stock was trending up and I made the purchase anyway b/c I was too busy and d/n want to wait. I will try to remember that next time!
On the flip side, I discovered another investment idea within the last week. It too is what I consider to be w/i my circle of competence. So, yesterday, I started accumulating a stock for an earnings play next week. I have not finished purchasing all that I want yet, but I will post the trades next week. This is a stock that no one likes, earnings have been erratic, and the long term chart looks like crap. However, I have been paying attention or becoming more aware, on an indirect basis of something very closely related to this stock. Bottom line: I am getting in b/c there are real catalysts that, imo, have emerged during this past Q. Without even thinking about the stock itself, I almost made a big purchase involving it and I did make an indirect purchase. There is also a rather loud, albeit indirect buzz that I am hoping has had a synergistic impact. The short term chart looks pretty good, although I could understand that some would say the good news may be priced in b/c the stock has run up from its recent lows. However, my thought process is that if this stock d/n benefit from these catalysts this Q, it ain't never gonna benefit.
If this doesn't work out, I am making note of this b/c I truly d/n believe that this is pure speculation. This stock is in the internet field and I am familiar enuf with the industry. With Yahoo! reporting something like a 50% ad increase for the 'net, this should also lends support to taking this speculative position. This definitely could blow up b/c mgt has disappointed in the past, but I gotta feeling that they are gonna post record numbers. Stay tuned. |
