Tuesday, May 12, 2009

Bookkeeping: Restarting Position in Riverbed Technology (RVBD)

I am restarting a (small) position in Riverbed Technology (RVBD) - it's not cheap, and I am chasing to some degree but not at recent highs (just under $19). I'd rather be a buyer at the gap in the low $15s but since the market has not been down more than 2 days in a row since early March, I am going to put a little skin in the game here around $17.30. "We" have a lot of fees to make here by getting people into secondaries, and making sure they make money immediately (by pushing stocks up artificially) so we cannot let the market be down 3 days in a row.

I mentioned Riverbed yesterday when I listed some buys, as something I just missed with a limit order. We also favored it in an analysis in early April [Apr 8, 2009: Stimulus Fire Hydrant (Worldwide) Should Benefit Networking Companies/Broadband] [Apr 9, 2009: Juniper Networks and F5 Networks Benefit from Low Expectations], but I did not want to buy something ahead of earnings so we missed the opportunity for the casino game: "earnings pop or drop". In this case it was pop. [Apr 24: Missed Opportunity in Riverbed Technology] This is one of the technology companies that is actually growing, rather than just doing the typical cyclical up and down as so many others are.

I'm starting small in case the market restarts a march upward, but hoping to lose money on this first batch and be able to buy lower in the future. Today's purchase was only a 0.6% stake.

[Feb 5, 2008: Riverbed Technology Continues to Execute and the Stock Continues to Fall]
[Nov 27, 2007: Riverbed Technology - Fortune Article]

Long Riverbed Technology in fund; no personal position

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