Monday, November 20, 2006

Sold the other half of my VG....


I have a small Scottrade account with a bit of money in it that I thought I would try my hand at "trading" with.

I have never been a trader.....as I am more of a "saver" that invests with more of a buy and hold approach. I try to scope out long term investments, and quite heavily diversified. (so I skipped all the day trading of the '90s.....)

Anyways, a number of months ago I took the plunge buying 300 shares of Vonage at about $9.00 per share. I thought that was a GREAT buy because I use Vonage.....I think it is a GREAT product, and I thought the stock's fall from $14 was only a short term glitch.

Well, then the trouble started for Vonage.....from their poor handling of stockholders "revolt" after their IPO to their being taken to court for a patent violation....all of which they seemed totally unprepared for. They ended up on the stock "black list" pretty quickly.

Even while I say that, I still think they have a great product, and urge people to consider them for their phone service...but in terms of their stock, it seems to be a non-starter right now.

So I started out by selling half of it about 2 weeks ago, and then last Friday I sold the rest at $7.02 per share.

Two weeks ago I took the first half I sold and put the money into China Unicom LTD (CHU) (the small Mobile Phone company in China which started out going gangbusters but has now fallen back about to where I bought it) So this past Friday, I sold the second half of my VG and now my second chunk of money is sitting in cash waiting for the right investment.

How will I figure out that that will be...at this point I am not sure. More analysis is needed!

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