Monday, March 20, 2006

Weekend and a Quick Trade Update

So, the weekend was fairly uneventful for me. The weather was nice, but I didn't really take advantage of it, and now I'm regretting it, since the gloomy weather has returned.

Anyway, St. Patrick's Day night was spent drinking at home, mostly because of laziness.

On Saturday, we had a Moroccan feast over at Menara. This would be the second time I've been there. The first time was in 1999 when our clinic project team back in college visited the sponsoring company, which was located in the Bay Area. The food is quite good, and the atmosphere is different, but really nice and laid-back. I mean this literally, since you're eating your meal while on the ground lying against pillows and cushions.

I also ran lots of errands, and finally bought a television stand among other household necessities. And, last night I spent many hours doing taxes. I don't have as big of a tax bill as I had thought. Yay!

Today, my Allegheny Technologies (ATI) shares were called away for $55. I had sold the 55 calls for $1, so my exit is $56. About time I book a winner. My trading port suffers, as my Long-Term portfolio continues to perform well.

With some of the ATI proceeds, I picked up some Suntech Power Holdings (STP) at $33.05. We'll see how this goes... I've been following it for some time. Today's dropwas due in part to a fairly negative Barron's article about the cost of silicon affecting solar panel installation costs and also a downgrade of Evergreen Solar (ESLR) to Underperform by RBC Capital Markets. I don't think that the drop today is justified and was not based on any company-specific issue. The bottom line is that STP is profitable and ESLR is not. I will be watching this carefully.

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