Thursday, March 13, 2008

My Birthday Wish: A Bull Market

Well, I'm 19 years old today... and it's probably the least monumental birthday ever. Other than a few small monetary gifts, it's life as usual. [If anyone is feeling especially generous - is my PayPal account. :)]

So what else is new - oh yeah, the market is tanking.

Thankfully, I sold a third of my Thornberg shares yesterday near $3/share to lock in neutrality for the trade... now, even if the rest of my TMA falls to zero, I'll break even.

I bought some Bear Stearns (BSC) today as a trade, but my lower stop loss was just touched and I was forced out. It has now moved up a couple dollars, so I don't know if I'll get back in (its in my Ameritrade account, where commissions are $10 each way... I should be using my Tradeking account, with $5 commissions). BSC is attractive because it is down like 70% in the past year, but it is clearly having problems operating, so there may be more attractive beaten-up financials.

I also bought some Etrade a few days ago as a speculative play; it's also priced for bankruptcy, while I expect the company to survive and recover.

I also have an order in for American Eagle (AEO) LEAP calls right now - as a teenager (I can only call myself that for another year), I'm familiar with their business. The stock has fallen 50% over the past year, and valuations are at a historic low.

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