Thursday, January 3, 2008

Go away 2008

My portfolio is not enjoying 2008 thus far. Today was even worse then yesterday. Especially since the market was generally flat while my portfolio crashed and burned yet again. At least CHCI was up nearly 20% today. A 30% gain since Christmas isn't too bad. I'm sure I'm speaking too soon though. Tomorrow already looks like a downer as Bed Bath and Beyond reported bad earnings. Currently it's down more than 8% after hours. And I'm already down nearly 30% on that investment. Considering liquidating that position for something else. Genesis Microchip was down more than 1% today. Normally I wouldn't mention that, but it's in the process of being bought out. That makes me wonder if the deal is in trouble. In a way I'd be glad, since I think it's worth nearly double what the buyout is for. Of course if the deal isn't in trouble, it might be time for someone to do some merger arbitrage. I mean if the deal goes through and you buy today, not including commissions that's better than 3% profit. Not too shabby. I won't make that bet though. Cause I'm a pansy.

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