The Trading Almanac

A diary of investments in my IRA, a daily look at my stock watch list, and additional commentary/discussions on individual stocks, the overall market, economics, technology, etc.

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Location: United States

Wednesday, January 04, 2006

First Purchase of the Year: SiRF Technologies

I purchased SiRF today on a high volume breakout to an all time high. I got 19 shares @ 32.03. (I would have bought more but I didn't have any cash, that's right, I'm 100% in). This position is 5.79% of my portfolio. Sirf produces semiconductors that are GPS enabled and used extensively in cell phones and GPS devices. I've followed this company since their pre-IPO days in 2003 and they have quality products and are well managed. The only downside I see at this time is the fact that insiders sold over 600,000 shares in December around $30/share. With that in mind I'll have little tolerance to the downside.

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