billogoods
07-05-2005, 10:34 PM
Last week Tuesday (one week ago), I purchased these stocks, all recommended by JC on CMM. So far, at the close of business today, I'm:
(a) down $10 per share on Goog (serves me right, should have known any stock that hasn'thad a down day in months will if someone talks about the fact on national TV);
(b) down $.67/sh on MSFT (for all of Cramer's reasons, not the least of which is that Longhorn will be out in beta on time and the market is huge). I'm thinking, it's an excellent long term play until a month or two before the final version of Longhorn is headed to market); and
(c) up $.36/sh on GM. I live in the Detroit area. I have never purchased an auto stock. They are crap as investments. By the same token, I have never purchased an import---always a Ford, Mercury, or, now, the Jeep, out of pure loyality to my region.
But in the "tonie" suburbs, and the top tier private schools in town (where the parking lot for the students is filled with all the expensive rides and puts the parking lot for the teachers to shame), the buzz for the last several months has been that the rich, famous, and wanna-bees are selling their luxury imports, like Lexus and Saab, and buying the Caddie, usually the big SUV, what is it, the Escalade? So, for the first time in my memory, GM has "cachet."
In addition to its cost cutting, this could be a great play if there ever was one in the autos (I'm sure there has been, but I've made it my business not to care until this opportuity presented). I'm holding GM until at least October or November and reevaluate then. Exception: the stock drops more than 8% from my cost basis of $34.41.
I'll let everyone know how I progress and if I make further buys in the CMM Portfolio.
(a) down $10 per share on Goog (serves me right, should have known any stock that hasn'thad a down day in months will if someone talks about the fact on national TV);
(b) down $.67/sh on MSFT (for all of Cramer's reasons, not the least of which is that Longhorn will be out in beta on time and the market is huge). I'm thinking, it's an excellent long term play until a month or two before the final version of Longhorn is headed to market); and
(c) up $.36/sh on GM. I live in the Detroit area. I have never purchased an auto stock. They are crap as investments. By the same token, I have never purchased an import---always a Ford, Mercury, or, now, the Jeep, out of pure loyality to my region.
But in the "tonie" suburbs, and the top tier private schools in town (where the parking lot for the students is filled with all the expensive rides and puts the parking lot for the teachers to shame), the buzz for the last several months has been that the rich, famous, and wanna-bees are selling their luxury imports, like Lexus and Saab, and buying the Caddie, usually the big SUV, what is it, the Escalade? So, for the first time in my memory, GM has "cachet."
In addition to its cost cutting, this could be a great play if there ever was one in the autos (I'm sure there has been, but I've made it my business not to care until this opportuity presented). I'm holding GM until at least October or November and reevaluate then. Exception: the stock drops more than 8% from my cost basis of $34.41.
I'll let everyone know how I progress and if I make further buys in the CMM Portfolio.