Adobe got a little note from the SEC, which is never good. Mkt sold em down on that, but I am wagering, ie, betting that it is no big deal, which arguably is real risky. Bought ADBE down here and am looking for it to close stronger.
Also bought some GSF on the dip. I like this company a great deal (think HUGE BACKLOG) and have owned some Jan 08 Leaps for about three weeks. I bought the stock on the dip today as a trade, looking for a late day rally. If it doesn't come, it will be sold but I will hang on to the LEAPS.
Yesterday I bought PTRY. SAC capital filed yesterday that they have bought over 5% of the stock. This is a highly speculative trade, which is working so far. I confess to having done about 10 minutes of research on them yesterday and am still not 100% sure what they do, but that is the stuff of trading sometimes. At times you buy "now", and research later. As long as you use tight stops and good money management, this can work. If you don't, this can prove very costly. Yesterday when I bought it, I reasoned that it would get a bounce based on the filing, and that proved true. With a tight trailing stop, this makes sense. This type of trade is not investing, it is pure unadulterated speculation......
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