Monday, November 26, 2007

Bookkeeping: Starting Best Buy (BBY) Position

Posted by TraderMark at 3:16 PM TweetThis
I mentioned yesterday the reasons I was interested in Best Buy (BBY) [On the Buying List: Best Buy]. True to form the stock is actually up 1.5% in a (once again) bad tape.

I am going to begin my starter position here with a 200 share buy in the mid $48s. I will buy the next batch if/when the stock crosses above $49.50 which would confirm a new trend up (with the stock increasing past a recent peak reached a month ago)...

This is a 0.9% position for the fund and I am looking at what is bucking the trend in a gosh awful market. I am not too antsy to increase long positions in this tape so I am not going whole heart in at this time.

Best Buy and all the consumer gadgets it sells is one area the strapped consumer will actually be spending. For more detailed reasons, click on link above.

Long Best Buy in fund; no personal position

Posted by TraderMark at 3:16 PM

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