EDGE TRADER

Thursday, August 25, 2005

Cashing out


I am going to be cashing out on some positions tomorrow. Spending a long week at the beach where I will loosely monitor the market but not do much trading. Which appears to be fine the way the past two weeks have gone on Wall Street. My rule is that if I have to worry about it while lounging in the sand, then I shouldn't own it.

HP is now being called the "Tech Bellwether" by CBS Marketwatch. Loosely translated, in media-speak, the phrase is attached to whichever large tech firm (DELL, INTC, MSFT, HP?, AAPL?) happens to have enough of a news tidbit to actually make a headline. In all likelihood, the stock buyback increased from 3 billion to 4 billion in order to counteract the dilution created by Mark Hurd's stock based compensation package and Carly Fiorina's golden parachute, but who am I to quibble? It is positive news that might gap the tech sector up tormorrow, which is enough to make me happy.

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