October 21, 2006

Recent Stock Trades

A friend of mine recently called me out when I told him I wanted to buy October $27.50 put options for 60 cents each. The main reason I didn't do it is because I have never traded options before and trading them requires me to fill out and fax in some form to Etrade. A few days after I tried buying (but couldn't do to account restrictions and needing that form) Yahoo! announced they were seeing weaker than expected ad revenues. The stock dropped like a rock, and I think those options ended up being worth over $4 each, which would have been a sweet 500% profit if I had bought them.

Since that friend called me out on not making that move I figured it would make sense to post all my stock trades to see how much smarter or dumber I am than the market is.

On September 13th I bought some JUPM for $8.62 a share.

Today I sold all my GOOG shares at $457.75 a share. I think the flood of insider selling will drive the stock down back toward the $400 to $420 range, and then after next quarter Google may likely break $500. If Google goes low enough (say $380s) I will probably buy a few shares again.

The market seems overpriced to me in the verticals I know well, so my next bet is going to be AGAINST a company, betting that they will have a weak Q4 relative to market expectations. I won't bet against Google, but I will soon buy put options on another Internet company. I will say what company it is after I buy the options.

Posted at October 21, 2006 12:02 AM
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