I wanted to thank you all for your support in taking a few minutes of your time to read my ramblings. As of this afternoon, we’re now over 100 RSS subscribers! Thanks again to everyone reading Investing Adventures!
Jorge
Tuesday, May 6, 2008
Short Visa in a Down Market? Not a Good Idea
Took a short position with puts on Visa around the open with a stop at the high of $86.05. So far, VIsa’s holding up extremely well in what looks to be a rough day for the markets with the Dow down about 90 points. More than likely I’ll be stopped out of the position for a loss but we’ll see. I’ll update as the day goes on.
Update: As I figured, never short Visa. Ever. Out with a loss after commissions of $22.50.
Monday, May 5, 2008
Early Morning Action
Futures are looking a bit lower this morning. Sometime last night futures spiked down about 20-30 points for some reason. My guess is the Asian markets had opened up and were hedging against potential downside this morning but it’s anyone’s guess.
Visa’s looking weak this morning with pre-market action taking it below $82. I will most likely take a nibble at $81 which appears to be a good support base with two failed breakdown attempts over the past week at that level. If $81 does break down, $77 appears to be the next logical support base. I still don’t think well see Visa under $80, but one never knows.
Option Addict has released his latest watchlist this morning. If you’re in need of ideas, just starting out, or need to see how JK works, head on over and check it out.
Sunday, May 4, 2008
Blog Income and Traffic Report – April 2008
Man did April fly by. Guess that means it’s time for another quick blog income and traffic report, brought to you by the great people at Mario Kart Wii, because without it, wii’d be bored during the summer months.
Saturday, May 3, 2008
Microsoft Withdraws Bid for Yahoo – No More Microhoo
Microsoft this evening withdrew its bid for Yahoo. Yahoo was demanding approximately $37 per share while Microsoft was offering about $33 per share. Microsoft also stated that it won’t go hostile in an attempt to take over Yahoo. Expect Yahoo’s shares to drop on the open on Monday. Remember that prior to Microsoft’s attempt at the takeover, Yahoo was trading in the $18-20 range. As a result, a 20%+ drop in Yahoo’s share price on Monday isn’t much of a stretch. I’m expecting quite a few angry Yahoo shareholders coming forward as well.
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