Well, Dell went private last week. Thanks to Mr. Icahn, the offer was boosted from 13.65 to 13.75 plus a special .13 dividend. So, I'm once again sitting on a lot of cash.
Today, I decided to take a position in eBay. I invested nearly all of one of my accounts in eBay at 53.14, today, near the middle of its 52 week range between about 46 and 58. eBay enjoyed nearly triple its daily volume today to the upside, which I saw as confirmation of and commitment to my view that it is a good value. It is not a steal, but it is a good value in a strong company with multiple revenue streams, two very strong brands in eBay and PayPal, competitive advantage, relatively strong barriers to entry to its auction business with no direct competition, a strong balance sheet, consistent earnings, and ample room to grow. I intend to buy more shares, and I may sell some calls against some shares.
That's all for now.
Disclosure: I am long EBAY.