Updates

Google

I sold my share of Google (GOOG) at the beginning of last week for $600.00. It closed on Friday for $637.39 and went to $638.00 in after hours trading. That shows how much I know. I was so eager to take some gains that I ignored the fact that Google is still an attractive stock. I sold it the same day analysts were busy upgrading it's 52 week price target to $750.00. Some analyst speculate that it could hit $900.00 in the next two years. Online advertising is the new newspaper business. The market isn't even close to being tapped out.

Here are a couple of things I don't like about Google long term. I admit that I'm grasping at straws here, but hear me out. Google is reportedly interested in branching out into the cell phone business. This worries me because it's risky. There are already companies out there that do this well. The word on the street is that they are extremely unimpressed with the software used in cell phones and think they can do better. Why not just focus on the online advertising business - it's growing growing growing...I don't think we're close to the peak of online advertising. My other concern is the other companies out there doing the exact same thing - why don't they wrestle some market share away from Google? Yahoo ads have more views than Google, they just aren't as profitable because they are a poorly run business - what happens when they clean up their act. Just some thoughts. I sold the stock way to soon, I know that. But part of me thinks Google will struggle at some point b/w now and $900.00. We'll see.

Mylan (MYL)

About two weeks ago, Mylan acquired Merck's generic drugs unit. In doing so, they suspended their dividend, and their PEG went from 0.77 to 1.44. That pissed me off and seemed to be a poor business decision. That being said, they are a long ways from their 52 week high and fairly close to their 52 week low. I'm staying in to see what happens. I wouldn't buy more until we see what direction they go in. Wall Street didn't seem to like this acquisition. We'll see if all those investment banks know more than the brass at Mylan.

Walt Jocketty

The Cardinals fired the best executive in franchise history. Good one dipshits. That's like selling Google for $600.00.