So my wife worked at Discover Card before we got married. She got company stock for her 401k and Employee Stock Purchase program. Discover was originally a subsidiary of Sears, I believe, then got sold to Dean Witter. Dean Witter merged with Morgan Stanley, becoming Morgan Stanley Dean Witter for a couple of years. Then, they dropped the Dean Witter. What will drop next???
At the peak of the dotcom bubble, MS split, then hit $120 per share. It fell with everything else when all the day-traders had to go back to work. Then it spun off Discover last year and spiked to $85 pre-spin. That's when Glot bought. Last week it bottomed out at $11, then bounced back to $30 today after the Fed cut off the short selling. So now that the immediate blood bath is over, what's in store? I put a stop-l0ss on my wife's brokerage shares at $29, and on her IRA shares at $27.50. The brokerage is much more short term and I want to play with it a bit more. I really do think that the bailout will work and give me chance to get some money back. But I'm still protecting it with a stop loss!
We may want to keep an eye on MS -- it had some incredible losses and gains last week. I don't think the volatility is gone from this one yet.
Sterling
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment