EMC Corp and the Tech Bull Market

October 9, 2007 | Posted by Jorge

EMC Corp. (EMC) set a new intraday high of $21.91.  There appears to be a full on tech bull market.  Other notables include Red Hat Inc. (RHT) climbing about 4% and VMWare (VMW), the EMC Corp. spinoff, topping the 100 mark.

The developments are significant in that I currently have in play calls for both EMC and RHT.  Ever wonder what hitting a home run feels like?  I’ll explain tomorrow but it looks as if I’ve doubled my initial investment in approximately 4 months time.  While that may seem long and the amount invested was small, it’s still a significant step and a huge morale boost.

Alcoa, the aluminum company, (AA) reports after the bell.  Initial estimates say a 5% profit increase is to be expected from last quarter.  I currently have a couple of AA calls in place to capture any upside past the $40 mark.  This is a short term trade which expires next week with October expiration week.

Have a great evening!

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