Friday, July 31, 2009
374% Return on My Money
On July 17th in this blog I wrote that I had covered my short position in General Electric and went long the stock at $11.70 a share.
Well, take a look at the chart here.
Thank you GE.
A 14.4% gain in two weeks. Annualized that is a 374% return.
Not bad, eh? Talk about high yield investing.
Look at those beautiful gaps upward. And realize this chart only reflects prices at $12.00 and over. I was up before the chart even started.
As I will explain in later posts, GE is now the perfect traders stock. If you know how to read the tape (like me) you can play General Electric as a cash cow.
And in case you are curious what GE has to do with real estate, read this.
Robert J. Abalos, Esq.