The markets performed well today, finishing up about 1%. The financials led the way posting 4 to 5% gains. As I mentioned earlier, Etrade (which I own) was up approximately 6% on speculation that Capitol One Financial was preparing to submit an offer to buy the company...I don't necessarily believe Capitol One will be the company to acquire, but I do like the fact that the stock was up so much today! I took some short term profits on the stock today and sold some at $10.60/share, having bought some last week at $9.22/share (thats about a 15% return in a few days).
I continue to think that stocks in general are overbought, and the most prudent thing to do right now is to "take some money off the table" and sell some stock. The market is not nearly as attractive now as it was about a month ago.
