Tuesday, September 25, 2007

Finally some signs of life from Intercontinental Exchange (ICE)

Intercontinental Exchange (ICE) has been a strange laggard in the past few weeks - as an exchange you'd think the increased volatility would be a great backdrop for the company. The stock is jumping today on news that it will be added to the SP500 index; a pretty prestigious inclusion.

I am actually going to take the opposite end of this trade and cut my position in half on this news. The stock still had been acting weak up to yesterday's announcement and a move like this, gap up, on non fundamental news is not something I want to be chasing. I'll see if I can buy back some of it about 5% lower in the low $140s.

Long Intercontinental Exchange in fund; no personal position

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