Thursday, June 28, 2007

Best Buy

After selling my AAV, I didn't want to let my money sit around for too long so I started looking for new stocks to buy. After a lot of reading, I stumbled across an article comparing Best Buy, Radioshack, and Circuit City. The author concluded that all three are good buys. I checked them out and, using the wonderful research tools at TD Ameritrade, concluded that the author was pretty much right. As luck would have it, Best Buy fell pretty significantly right before I did this research (last week). So I bought some. I am excited that Best Buy is making forays into China and the news of the stock buyback was of course welcome.

Now my IRA is composed of 20 shares BBY, 20 shares GE, and 5 shares AGG. The AGG is there in preparation for my bond-options strategy, which I'm investigating still. Hopefully TD Ameritrade will be more generous than Sharebuilder with their options policy for IRAs.


JonathanRaleigh said...
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JonathanRaleigh said...

What price did you get BBY at? Looks like a good buy. I think it will hit $60 again in the fall after summer sales are reported. Which would translate to about a 30-35% gain if you sold at $60.

You know sales have to be up during the summer due to all of these kids staying at home and their parents buy them something to keep them busy (video games, or music)

Just my opinion :D congrats,

I'm trying to build up enough money to purchase another company. I try to invest a minimum of 1K in a company to make it worthwhile so the commissions don't eat me up. (with the exception with AAV), which 4 mths of dividends will be enough to cover the commission)

Jon said...

I just opened this IRA and part of the promotion is 45 days of free trades. It is nice not to worry about how commissions will affect your profits, especially when you only have a little money in the account. I'm looking forward to when Zecco gets its bugs worked out and I can give it a shot!

I bought the BBY on 06/20/2007, 11:13:30 am, at $45.3394 a share.

JonathanRaleigh said...

hey I'm really curious about options. Can you post about your purchases and everything else you do with options once you start doing it? No rush, just whenever you start. I'm thinking about getting into it, but I'm trying to learn all I can first.


Jon said...

I definitely will!

Twila said...

Interesting to know.