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Today’s Transactions:
Opened a position in SNE averaged at $56.26 stop-loss if the stock is below $45 at close.
Reason: Despite recent turmoil in the financial market, this stock is quietly moving higher and now is inches away from its 5-year high. Since Howeard Strringer took the CEO job back in 2005, the company has started a 3-year restructuring program and now is on track to reach its target of 5% operating margin by March 2008. In addition, the sale of its key PS3 game console appeared to gain some momentum recently amid shortage of Nintendo\'s Wii. Risks of the stock include a strong Yen vs. Dollar/Euro, which could hurt its overseas sales and loss of the support of Time Warner for its Blue Ray format in the battle of becoming the next generation DVD standard.
Today’s Return: -0.70%
Return since inception(June 05, 2007): 123.62%
S&P 500 Return since June 05, 2007: -3.30%
My positions:
PG
UTSI Jan 09 10 Call
SOHU
GOOG Mar 08 500 Call
DRYS
SNE
Short SOHU Jan 08 50 Call
Short DRYS Dec 07 85 Call
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