Archive for the ‘Stocks’ Category

Foolish Yahoo hopefuls

I bought Yahoo put options for a 22.5 strike price expiring in July.

Apparently there are enough fools believing a deal with Microsoft may still happen. slowing the free-fall of Yahoo’s stock.  It has levelled out to around 24.90 (down 13.15%).

To see the future of how this Yahoo mess will play out, go to Fake Steve Jobs.

I guess it’s good Yahoo is based down in California.  More tech companies their engineers can run off to.

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Gambling

Recently I’ve been throwing more money at the stock market. I use the term “throw money at” since it evokes an image of dollar bills fluttering all around while the target stands in the middle and watches the bills fall to the ground. I believe I’m single-handedly responsible for the rebound the market has undergone the past 3 days. Why? Because that’s when I finally decided to buy into funds that short the Hong Kong market and the S&P500. Try to profit on the sinking market! That idea has turned around and punched me in the gut. Good thing money is running out, this means I won’t be able to afford food and will lose a little weight.

Speaking of the stock market and gambling, I am going to Macau for a quick trip to see family. Staying at the new Venetian hotel. I hope it is as grand and interesting as the Las Vegas one and that the gamblers are a little more social than the normal players you find in Macau. My memory of last year’s trip was of grungy looking older folks communicating via cigarette smoke rings and inarticulate snorting. No one drinks alcohol, no one talks to the dealer, everyone just looks at their money. It’s all about win, win, win. Shows? Restaurants? Ambience? Who needs them!

Goodie gumdrops

How unexpected – I wake up this morning to see the bloodbath that is the stock market and then notice Microsoft has popped up to 35.56 (+11.16%) in after hours trading.  Finally, the entertainment and devices division registers a profit!  Thank you Halo 3 (but bye-bye Bungie) and the excitement regarding the investment in Facebook.

Microsoft increased its forecast for the year

Hmm… should I sell some stock now while it’s up… or is there possibility of it climbing and climbing?  Decisions, decisions.

Too bad this didn’t happen the last quarter when a ton of stock options expired.

Lookie lookie…

Who might get a cookie… and stock that will be worth something of value.

Goldman adds Microsoft to buy list

Okay all you stock lemmings, make Microsoft go up!

The Stock Market

Screw you, asshole.

Starting position in SIRF Technologies

On July 16 I purchased 215 shares of SIRF at 23.27.

“SiRF Technology Holdings, Inc. (SiRF) is a supplier of global positioning system (GPS) semiconductor solutions designed to provide location awareness capabilities in high-volume mobile consumer and commercial applications. SiRF offers a range of GPS chip sets and software products for high-volume GPS markets.”

Basically they make the GPS chips that will fit in small handheld devices such as mobile phones.  And that sounds like a market that will go up, up, up!

At least I hope… their stock price has been rather volatile.

I also made my first stock option purchase (also with SIRF).  Call options costing 1.60 expiring on September 22 at 25.  Thought it was time to get my feet wet in the options sea.

On a sidenote, Microsoft Money is demonstrating some weird glitch where stocks that are at a gain are showing a loss on the portfolio.  What a terrible bug!

Started position in Baxter International (BAX)

And boy do I wish I hadn’t.

Back on July 14 I bought 100 shares of BAX at 58.49.  They are a medical products and services company that target a range of diseases (hemophilia, kidney disease, cancer, etc.)

Their fundamentals looked solid, stock price was on the up and up…

And then today they announced earnings.  Where they surpassed the estimates and raised their guidance for the full year.  Second quarter profit grew by 39%.

Sounds rosy.

Alas, late Wednesday the FDA classified a recall on one of Baxter’s pump devices.  A “Class 1 recall” which is apparently for dangerous or defective products that could cause serious health problems or death.  Baxter’s CEO (Robert L. Parkinson) says that the recall will have no material effect on the finances.

It looks like the stock market disagrees.

And now Baxter is trading at 56.00.  Ouch.  I’ll keep holding… for now…