My most recent buy was Visa. I tapped hard into the financial sector today with some losses by the end of the day. At close, Visa last traded at 80.85. I'm in the red about 40 bucks but I bought right around the closing price so I do not see how I could have done better.
Since this was the first trade of the year and probably a long ride, I'm sure that the company will be in streamline mode by the time announcements are made in September.
I was kicking myself about why I didn't wait till the nearer to the end of the trading day. However, based on available research, this stock will go up in the long run so I bought in as my long play.
Bank of America (BAC) is also an interesting play. Trading at 34.63, it is well positioned in my state and will likely be able to muscle its way through the housing crisis. The government really needs to step up and revise the bankruptcy code so that people don't have to go into foreclosure. Read something on NYT about people in Miami condos having to mow their own lawns and association fees that would make a lower manhattan apartment look cheap!
Waiting on another money transfer tomorrow and will act on one of my gut picks from my research. More on that tomorrow.
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