Wednesday, November 29, 2006

Putting the ca$h in my Scottrade account to work!

I think I mentioned that I had this small account in which I would trade. It started out as about $3000 about a year or so ago when I bought 100 shares of Vonage (VG) at $10 per share. (I thought it was a great buy at that price)

Well, the bad news about Vonage just kept coming out and it took a nose dive.....I dumped out of half of it a while back and noted here that I bought 99 shares of China Unicom (CHU) and about two weeks ago I dumped the other half of the VG at just over $7.00 per share and I was just holding it as cash.

Well, I was thinking of buying China Mobile (CHL) which has been doing pretty well...but I decided instead to buy a ETF called FTSE/Xinhua China 25 Index (FXI). It turns out this fund holds CHL as it's largest holding....about 9.78% of it's total holdings....so I still get good exposure to CHL after all.

I'm not sure how long it is going to take me to get back up to my initial investment in VG. Today my total Scottrade balance stands at
$2,202.27. (including $2.49 in cash) I started with about $3000....so I'm still digging out!

Wish me luck.....

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