Thursday, March 08, 2007
Updates on previous posts
AMGN - I sold about 2/3 of my stake before it tanked. I am looking at picking some back up possibly. $61/share is just way too cheap for this stock.
SBUX - I bought some at around 32. If it hits 28 without any bad news I will probably buy some more.
Got to love when you get something right, but don't act on it. I own a bit of FRO and it pays a great dividend. $30-$40 stock that paid a $2.50 dividend in December and just announced a $2.05 dividend payable this week. My point being.... The history on this stock is that it drops significantly after paying the dividend only to rebound before the next quarterly announcement. So the plan was to short the stock before today, the date of record for the dividend and then cover it after it drops. The theory here is that you essentially double your dividend if the stock does as you predict.
SBUX - I bought some at around 32. If it hits 28 without any bad news I will probably buy some more.
Got to love when you get something right, but don't act on it. I own a bit of FRO and it pays a great dividend. $30-$40 stock that paid a $2.50 dividend in December and just announced a $2.05 dividend payable this week. My point being.... The history on this stock is that it drops significantly after paying the dividend only to rebound before the next quarterly announcement. So the plan was to short the stock before today, the date of record for the dividend and then cover it after it drops. The theory here is that you essentially double your dividend if the stock does as you predict.
