The major indices are virtually unchanged, following a very busy morning session on Wall Street, with all eyes on the job market and Treasuries. While stocks spent most of the day in the green, despite a decisively bearish overnight session, the large-cap benchmarks are still in the red for the week, with the Dow struggling to stay above its key 50-day moving average. The European Central Bank (ECB) announced the slight tapering of its emergency asset purchase program this morning while also upgrading its growth forecast for the full year, which makes a similar announcement more likely from the Fed later this month.
SELL Stamps.com Inc. (STMP):
We continue to take advantage of the market momentum and book more profits. In July, Stamps.com (STMP) announced it was going private. The going-private deal has been moving along smoothly and is on track to close. We see little upside if we were to continue holding at this point (max upside at $330) and there is potentially some risk that the deal may fall apart, though unlikely. We are more than happy to secure a solid 92% profit today. Congratulations!
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Sell Pick No: 164
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