Tech shares are going up again

The INTC shares I bought last week are doing pretty well. When the stock market dipped I managed to buy the stock at $18.32 – one of Intel’s lowest levels in one year and a half. I was planning to keep the stock for at least several months and the market went up quicker than I hoped, Friday Intel’s stock closed at $21.77.

That’s a profit of almost 19% in a bit more than one week if I where the sell the shares right now (that’s without the stock transaction costs + tax and the loss or gains from the dollar/euro conversion). The hard part now is to decide when to sell it. Right now I’m planning to wait and see how the market does and I’m probably going to wait until it goes up to about $24 or $25.

This week I also bought another stock: NVIDIA. I was a bit foolish to buy them at a quite high price and initially had some losses but thanks to Friday’s 9.23% rally I’m back in the green. I’m hoping to sell NVDA with a profit of about 15%. NVIDIA will announce their fourth quarter earnings on February 13, hopefully they will beat expectations.

I’m watching the stock market pretty close every day to see how my shares are doing and I’m reading some more about investing, it’s a pretty exciting hobby . After last month’s crash the market seems to be going up again but I wonder if this will last. The economy is going through some rough times and the subprime crisis will probably continue to cause a lot of trouble this year.

Update – February 7, 2008: Looks like it was only a very short upward trend. Tech stocks down bigtime today and the disappointing forecast from Cisco didn’t help either.

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