Daily Status 2007-11-28
Account Value $1,051.93
Money $381.93
Securities $670.00
As of 2007-11-28 03:00:03 PM PST
What a great day for the market overall. In just two days, Dow up more than 500 points.
I took advantage of the up-tick to shed CSCO. I can do this and buy it back (at the same price). I’m not entirely sure, but this technique should save me taxes due on realized gains, but I can continue to have a position in CSCO. Any readers out there know if that’s the case? The costs are the two trading fees incurred.
MRVL took it hard after earnings. Stock tanked about 10% and option down $0.50 today. Isn’t too far off from my starting cost so I think I’ll hang on for a bit.
Bought a put on PHM — thinking a 5% gain today might warrant a 3% sell off tomorrow. Dividend yield of 1.70% isn’t too attractive for the value players so this might have some more room to slide.
Wanted to buy a put on TIVO too but lack of volume or interest before the day was over. Expired. It’s technology is matured. DVRs and other similar appliances are everywhere. Not much competitive advantage left for this pioneering company. Growth is slow and in only one place — subscribers. It doesn’t have much to warrant any jumps in P/E. The way my friend puts it — “the end of an era”. TIVO earnings were ok. Might have to wait a bit to see how the market reacts. Longer term, it’ll be goodbye TIVO and hello CMCSA
