Friday, 1 February 2008

Selling some Capital One

Selling just over $15,000 of Capital One (COF) at $55.44. The stock is up from lows of $37, and the 52 week high is ~$83...last time the stock was at $80 was in the first half of 2007. Now, it's clear that the world has changed, so I don't think we'll be even getting close to those levels again. So selling at ~30% off the highs doesn't seem to bad. Let's target low 40's on this one as a level to consider profit taking, although as always it depends on the newsflow. I think credit card companies will get hit eventually, and that could REALLY mark a change in their stock values.

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