Sharing your stock buys during this week of bailouts
Submitted by George on Fri, 2008-09-19 22:53.
A massive financial meltdown hit the markets this week, a likely once in a lifetime event. How did you react?
What did you buy this week? If you didn't add any shares, why not? Did any of you sell?
My buys
Let me kick off the discussion by listing my trades this week. First, I picked up shares of Sotheby's (BID) to double my existing position. My second move was to start a small position in eBay (EBAY) for $21.75 per share. This price came and went so quickly that I didn't get a chance to add it to my paper port at Marketocracy. Finally, I also added a small merger arbitrage position in BCE for $32.25. Also, by seconds I missed a great opportunity in Constellation Energy Group (CEG) when it was trading below $23.
I also decided to sell an old position in Sally Beauty Holdings (SBH) for $9.55 per share from my Special Situations Real Money Port. I decided I wanted to free up some cash in case the market got crazy again with stocks undergoing mergers.
I can't wait to hear about what others are doing.
Added eBay
I decided to add a half position in eBay yesterday. I think I might have an infatuation with auctioneers, for crying out load.
Riding out the storm
I'm staying put and riding out this storm. Hedging my bets with oil.
Happy Trading,
~Jim
HGSI - Stock Tracking Software