A couple of nice trades on what we used to call ‘dot com’ stocks back in the day. You know, when the internet was the new hotness and you could buy anything with dot com in the name and make a killing. That all went pear shaped of course, then the real internet revolution came along. Now almost any stock could be considered a dot com if we go by the definition that they need a website to earn the label.
Today’s trades are proper internet plays though. Businesses who are based entirely online and who couldn’t have existed twenty years ago.
First up, every traveller’s friend, Trip Advisor:
The stock took a trip south (sorry) from the open, and looked so weak and was subject to such selling pressure that the early entry was a no-brainer. Like a visitor to a bad hotel, I was out at the first sign of trouble. In the end there was more to be had, but I was gone with a four-figure profit in the bag and looking for the next trade.
The next trade happened to be dating giant Match:
This came along a bit later in the morning, but I’m glad I was still around to take it. After some faffing about earlier, traders clearly fell in love with the stock and started to pile in. We took a rapid ride up, and when the relationship started to look a little rocky I called an end to it and came out better off to the tune of $1,450.
Two simple trades netting almost two and a half grand between them. As always, there were plenty of other opportunities to be had.