Wednesday, June 24, 2009

Made a Trade...More to Come

I picked up a small position in General Growth Properties (GGWPQ) yesterday. I watched this stock climb from below $1.00 to $3.00 in a short time period on hype due to Bill Ackman's speech saying the stock will be worth $20-$30/share when the company exits bankruptcy. I would like a few more shares, and will add more at better prices if I can. Overall, this will remain a very small position due to the inherent risks of a company in Chapter 11, no matter how good the outlook for the future of GGP may be . So the typical disclaimer goes out on this one. Only spend as much on this stock as you're willing to lose, because there is the potential to lose it all. I've read up and studied a lot on this (Todd Sullivan has some great stuff on it), and do believe there is plenty of money to be made here.

Elsewhere, I'm just waiting and looking for stocks I like to fall to better prices. UNG is back near 14, and I'll likely pick up some shares soon.

I can't always do a blog post each time I purchase something, but I try to update it right away on Twitter, so if you're interested in what I trade pretty much real time, you may want to follow me on Twitter. Click here to do so.

Disclosure: Long GGWPQ

1 comment:

AMIT said...

Nice article written on the thing u done.

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