100 01/18/08 17.0499 1,704.99 Long-term
200 01/23/08 15.65 3,129.99 Long-term
100 06/12/08 16.2999 1,629.99 Long-term
100 06/17/08 16.5299 1,652.99 Long-term
100 06/20/08 16.0999 1,609.99 Long-term
I hope to be selling nearly 1/2 of my position in EMC at $19/share due to a Professional Research report finding and current market volatility.
Professional Research on EMC Corporation and Quantum – A Roller Coaster Ride for Data Storage Stocks this Quarter
The data storage and devices industry is showing mixed results recently, and quarterly earnings have been up and down. EMC Corp. which reported its financial results back in July saw its profits grow two-fold to $426.2 million due to corporations’ willingness to spend on data storage. While there has been some positive news due to businesses increasing their information technology budgets, profit margins for some companies in the industry have decreased due to an increase in production costs. Another problem or boon, depending on how companies adapt to the marketplace, is the strong emergence of cloud computing. Source: Market Wire
While I am selling 600 shares, I am keeping 700 shares which I picked up at a much lower cost than the shares I am selling. I am still holding these EMC shares:
200 06/26/08 16.0499 3,209.99 Long-term
100 06/27/08 14.8499 1,484.99 Long-term
200 07/09/08 13.0499 2,609.99 Long-term
200 07/16/08 12.58 2,515.99 Long-term
This sale will allow me to reinvest in other high dividend paying stocks as outlined in previous post, The Dividend Play.