Tuesday, April 29, 2008

V for Victory!

IPO for V happened while I wasn't actively looking for new stocks to trade. The low on the first day was $55.00 and it has been a steady climb ever since. I got in some calls a couple of weeks ago (+VFP June 80 calls) and sold 1/2 of them yesterday to leave my remaining 1/2 free and clear. The stock dipped briefly today, but I was 15 minutes late getting to my computer and missed my in to buy more at my low ball bid. Today the stock touched 80 at close. V is Visa by the way, and a great investment right now I think for these trying times. As the prices of necessities go up (gas and groceries) while companies are laying off employees or telling them that there will be no raises this year, people will be doing more credit spending just to make ends meet.

Trimmed a few GOOG shares today at 560 (about 15%) and looking for an in to put some V in my IRA. I believe that this is going to be a great long term play.

I'm in a few POT calls and some DRYS puts. I think DRYS is toppy here. POT could really go either way, it has some support at 180, but if that drops support levels are 160 and 140...

Shorted some PMCS today, and it ended the day up. I will be watching this one closely tomorrow, it could go either way.

Always perform your own due diligence before making any investment.

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