dell

i sold dell today at a 6.8% profit. the more i read about it and talked with people over the weekend, the less excited i was for the trade to become an investment. i wasn’t particularly good with the timing of the sale either, this morning it was up over 8% from where i bought it, but i was hemming and hawing a bit weighing the decision.

i bought back into PHO today, the powershares water resources ETF. i had bought it earlier in the year for a runup, and then when it turned around on may 10 with everything else i got out at a fractional loss. i’m probably early getting back into it, but i am still confident that water is one of the bigger stories out there. i also think that the utility constituents of the palisades water index should start getting a lift at some point as the tightening cycle pauses or ends and the economy shows more signs of slowing. the risk there is oil prices, because most utilities are energy intensive. i suppose i am “hedged” against that by penn west (PWE). i received those shares in a buyout of the petrofund canada i had.

my gut tells me i should think about buying puts on the QQQQ on days like this. i’m not complaining, mind you. everything is green on my screen right now. sandisk announces at 3PM  the close, and i sure hope they have some happy things to say about the next two quarters.

UPDATE: sandisk had good things to say.