Wednesday’s Trades (10/22/2008)
Bought XLF @ $15.10
The Financial Select Sector SPDR (XLF) dropped 6.27% and closed at 14.64 today. I bought shares of the stock during the mid day but the stocked slid towards the end of the day. I thought the 15 mark was a good entry point even though the stock had closed below $15. I plan to pick up more shares of XLF if it drops further. I think we should see XLF rebound soon.
Bought VZ @ $26.00
Verizon Communications Inc. (VZ) offers a nice dividend of 6.30% yield and I think it is a good long term hold. I’ll try to do a post on the company with analysis and details.