Monday, September 19, 2005

Sold Apple

I decided to take my profits in Apple today. Overall I made a 10% gain over a one month period. The chart of Apple still looks great, but I had to play it safe with the potential condo down payment. So how do I play it safe with this cash? I'm going to try to get my hands on some Global Cash Access Holdings; it's an ipo scheduled to debut this week. All ipo's are risky, but I checked out the prospectus and it's a very profitable company. They basically transact cash for gamblers. Looks like this one has some potential for a little pop. Really, this is a very risky strategy on my part.

The market hates uncertainty and that's pretty much why the market sold off today. You had the German elections, another hurricane brewing and the Fed. Check out the stocks that went up today, those are the leaders. For example, Amgen still has a long way to go on the upside.


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