Wednesday, August 01, 2007

Smack Down Day

I got smacked down pretty hard today after MasterCard’s (Ticker: MA) less than blow out earnings. The company only beat estimates by $0.10 per share and that was not enough. You know what that means... Down it goes... Today, I blew out my position in this stock and generated a net gain of 37.53% in my regular account and 103.86% in my IRA account. In my IRA, I redeployed the cash into Shire PLC (Ticker: SHPGY) and in my regular account, I picked up a bit more of Celgene (Ticker: CELG). I’m gonna hang onto some cash until the market settles down.

On a side note, after the bell Invitrogen (Ticker: IVGN) reported blow out earnings. The company reported $1.15 earnings per share and analyst were only expecting $0.76 per share. The company also announced another $500 million share buy back. This stock is up 7% in after hours. What a pleasant surprise…


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