Considering the rest of the market, Disney is holding up pretty well.A "defensive stock" was probably not the wisest choice for shorting in a down market (should have shorted AMD instead!). Oh well, I'll stick to my guns unless it goes about 29.5.
Funny article from Mondavi, who have a big exhibit at the California Adventure:
biz.yahoo.com
They'll need to bring parents into the park too, because children obviously can't drink wine,''
Mondavi Chief Financial Officer Hank Salvo told Reuters.
Steve
P.S. Speaking of defensive, I went "long" on a weird stock today: U. S. Restaurant Properties (USV), a REIT. Never heard about this company, nor cared much for REITS, but I have been mostly in cash since February getting a rather paltry interest rate from my broker. This REIT is paying nearly 10% (spread out monthly). They lease to Burger King, Pizza Hut, which would seem to be the restaurants that would fare the best in a recession (i.e. cheap). Anyway, I got this idea from a guy I met in in an airport, who was telling me that the management was turning it around by selling off the gas station properties, blah, blah, blah. Whatever the case, looking at the business, it seems reasonably safe. If it just sits there, then I'm still doing much better than cash. Worst case is that all the Burger Kings go belly up. . .Any comments out there, since I couldn't be greener when it comes to this area. I like techs, and I am very negative on the market, but I hate to see money being idle, and I'm not confident enough (damn it) to short everything! |
