A new trade and a missed trade! Lets get long an internet stock...

I was reading about the search engine AskJeeves today, and how they are
re-branding it as Ask.com. This makes way more sense as AskJeeves name
was rubbish...having Ask.com should have a much wider appeal. And
looking at the redesigned homepage, it looks fantastic, better than
Google.

So I did a little more digging...the company that owns it is called IAC
(InterActiveCorp), which owns a variety of sites/businesses including
Match.com (a dating site) and Ticketmaster. The market cap of this
compan is only about $9.5bn, which seems TINY considering Google is
worth around $110bn!!

So, I looked at shorting Google versus getting long IAC, but just a few
minutes later Google comes out and says growth is slowing in its
markets, and the stock drops over 10%!!!!!!! Dammit, that would of been
about £4k! Ah well, I bought some Jun '06 IAC @ $29.60 in £10 a point
anyway, so just under £30,000 of stock equivalent.

I love this trade, lets keep it all year and see it double.

And a quick note on the Heinz trade from the other day...the bloody
company just came out today with results and missed analysts
estimates...stock traded down 4% in pre-trading, but is now flat on the
day...makes me even more confident in the potential LBO.

On the nightmare DAX position, I cut it today after the DAX fell 110
points following lower US consumer confidence...I was never happy with
that trade and I'll take the £705 loss "happily", so I can move on. Lets
keep an eye on DAX/FTSE/CAC, I think I want to be long DAX versus short
FTSE/CAC, as I believe in the German economic recovery.