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Some bright spark(s) bought Google at $201.60 on November 3. Today, the shares are $163.60. Good miss for those who resisted the temptation. I read one piece that said the lockup releases would be met with institutional buying, rendering them impotent. Yeah, right.
There are 127 million shares in the public float.273 outstanding. With, I think two lockups released to date, there are three more; Dec 16 for 25 million shares, Jan 15 for another 25 mill and, Happy Valentines–Feb 14 for a whopping 177 million. That's not to say that they'll all get sold, but the form 144 filings are about the longest I've ever seen. A 144 filing is necessary for insiders and employees to facilitate an eventual stock sale. You be the judge. Looks like the institutions, which I was intrigued to learn only own 11 percent of the shares, will wait a while longer. See? As I said, a good present and future miss.
As well, have a look at the other double OO TravelZoo–another “winner”. A few days ago it breached $100. Today? under $80. Looks like it got Taser'd too.'nuff said. You can go look at the charts if you wish. I'm done with these two. Unbelievable.
Mutual Funds are getting spanked by Exchange Traded Funds (ETF). Scandals, crappy performance, charges and the rest are souring the public on managed funds to a growing degree. There are now dozens and dozens of ETF's that trade billions of dollars a day. BTW, I noted the gold ETF GLD the other day and, while it continues to be popular, investors should note that IF a capital gain is realized, our very good friends at the IRS view this vehicle as a ‘collectible' with the attendant 28 percent tax rate. Make sure you check with a tax expert to get the straight goods on trading this thing, because depending/relying on me for tax advice would be just plain goofy.
ETF's are way cool. There, I said it and I'm glad. Some of the industry ‘intelligentsia' have opined that ETF's are for people too stupid to pick their own stocks. Au contraire. Let's talk Japan. The Japan ishares trade, on average, 5 million shares a day and has net assets of over $5 billion. Over the last year, the Japan ishare is up 20 percent while the NASDAQ is up about half that. Yeah, that's stupid...
EWJ is trading well in a nice channel as shown in the chart, great trading opportunities if one pays close attention to the channel. It becomes pretty obvious when to buy and sell–at least at this juncture.
Check out the top holdings and you'll find names like Canon, Honda, Sony etc. Hardly duffer companies. The good folks at Morningstar have all the goods on ETF's. Learn about them. Whether you want country, sector, industry or index specific exposure, there will be an ETF for you. They're here to stay. Get used to them.