Just returned from my conference in Portland, OR from Gainesville, FL. A long trip to say the least. Flying’s an acquired taste, I suppose. I did manage to catch market updates along the way. The week started off poorly in terms of the market. The 160+ down day Tuesday I believe wasn’t what I wanted to see landing in PDX. However, down days give you a great time to jump into the market. Wednesday morning I managed to sneak in 30 shares of LVLT as a result of the down day @$6.00. LVLT’s my speculative/tech play. Jim Cramer from CNBC’s Mad Money feels that we’re ripe for tech plays. So as my first stock in my revamped portfolio, I’ve decided to take a position in LVLT, Level 3 Communications.
From my Stockpickr wishlist:
LVLT (Level 3 Comm Inc)
Can’t have enough bandwidth with YouTube growing at 7% per day, right Master Cramer?
*Speculative Play*
Sector: Services
Industry: Communication Services
From TheStreet.com’s Company Profile:
Theory behind LVLT:
I don’t think we can ever have enough bandwidth. LVLT recently landed a contract with the US Library of Congress for bandwidth services. YouTube’s also growing at a rate of about 7% per day. With the increase in movie and music downloads, bandwidth expansion’s going to have to come from somewhere. That’s where LVLT comes in.
Disclaimer: Remember, I’m just a college student learning the market for the first time. I’m not a professional. In fact, I’m not even a business major. Before you invest, do your research first. Beware of the risks of investing! You can learn a valuable lesson!