Tuesday, December 13, 2011
I've been laying low for a while without much activity, just watching things play out in Europe. I made some money on PRIS but, once it shot up, I got out. Too much volatility. Only purchase since I last checked in has been MGM. Bought it at $9.60 because I felt we were on edge of a positive news cycle at the time and I believe that investors are waiting to pour into casino stocks at the first sign of a turn in the economy. Not that I believe the US economy is actually turning in any meaningful way. In any event, MGM has been up to $10.50 or so but I decided to just hang in and now it's back down today to around $9.80. I don't particularly love MGM but it was below $10 in the right sector, at the right time. Now we'll see if I missed my window on it.