VMWare Day #2

I know I am spending way too much time looking at this one stock, but it interests me. Yesterday, I bought at pretty much the low and sold it at the high. But today, the stock went up almost $7 (13%) and now another $1.22 (2%) after hours. So the much speculated dying of hype did not happen today. However, reading the google message board many believe the hype will eventually die and the stock will come down in the 40's. Tomorrow will be interesting for sure.

Another horrible days as the penny stock CQV.V traded down another penny - this could really hurt the portfolio. AMD declined almost 5% bringing the loss on that one into triple digits. There are really a bunch of losers in this portfolio and it is getting depressing watching them tumble each day.

VMWare (VMW) Insanity IPO

I read about VMWare on Monday and how EMC would be putting 10% of the company on the market in Tuesdays IPO. They also came out late on Monday saying that the IPO price would be raised from the low 20's to $29 a share. Instead it went much higher than that.

So this morning, I decided to try my hand at my first ever Initial Public Offering (IPO) - I decided to put in a limit order for 30 shares at $35. After letting that sit there, I noticed that it looked like the opening bid would be in the 40's, so I raised it to 30 shares at 45. This order did not fill, then I read on some message boards that the thing was in the 50's. So I got sick of putting in limit orders and them not filling - I put in a market order for a small 8 shares to see what would happen. That went for $50.69, I then watched it the rest of the day and decided to get out at $54.28 for a profit of $28.72 (7%)

Small profit, but I'll take 7% in one day, considering the luck I've had with Bank of Montreal (BMO.TO) and Lexmark (LXK) both tanking over 10% in the last couple of weeks.

BDO forced to pay millions in punitive damages a jury ruled on Tuesday, check out the details here.