Site Meter Statistics

I recently installed a Site Meter on this blog. This is basically a counter that also keeps track of other statistics. The results are interesting to say the least. I have found that my blog is read in three different countries. Most interestingly, a significant number of the hits that I've received are from Australia. This I know, but I don't have any idea who the readers are since I haven't yet received any comments on my blog to know who they might be.

A number of readers who have found my page were searching for information on iShares Goldman Sachs Software Index (AMEX: IGV) that I had recommended for purchase. I have since closed out my position of this ETF. Some referrals appear to be random; they might be the result of clicking on the next blog button in the Blogger toolbar at the top.

Most readers use Internet Explorer 6.X running on Windows XP. There aren't any Macs out there reading my blog. Clearly, there are people reading my blog, but I wouldn't say there is a huge readership overall.

If you are curious, I have kept the statistics on my Site Meter public. Just scroll down to the very bottom of this page and click on the Site Meter icon.

Closing Out IGV Recommendation

At this time, I'm closing out my recommendation to buy iShares Goldman Sachs Software Index (AMEX: IGV). The software sector and the Nasdaq in general have encountered some significant resistance. Today IGV closed at 42.65. Based on IGV's price at the time of my original recommendation of 38.19, this represents a very respectable 11.7% gain in just 7 weeks.

At this moment, I am still holding the line on my recommendation to buy Nasdaq-100 Tracking Stock (Nasdaq: QQQQ). But, it is also starting to show some weakness. Check back here for a future update.

Visit PFStock for more information on personal finance and stock investing.

Trend7

For about a year now, I have been getting Emails from website known as Trend7 asking me to subscribe to their stock picking service. Well, I recently took them up on their 14-day free trial offer, but I haven't really subscribed. Unfortunately, Trend7's investment results are uninspiring, to say the least. They currently have 8 stock picks. Of these stock picks, 7 have lost money to date and there is only one winning trade in the bunch. Their only winning investment happens to be a short stock pick.

Looking through the historical performance of the Trend7 picks, one recent trade stands out to me. On 8/18/2006, Trend7 recommend the purchase of September $39 strike QQQQ put options. These options expired worthless on 9/15/2006 resulting in a $10,020 loss for Trend7 subscribers.

Gee, I'm not going to spend $99 per month for a stock picking service that shows me how to lose $10,020 in 4 weeks. What is probably most ironic to me is that I have been essentially on the opposite side of this trade. I have recommended the purchase of the underlying QQQQ (Nasdaq-100 tracking stock) on 8/18/06, at exactly the same time that Trend7 recommended to buy put options. I am now up about 5% on my investment while Trend7 is down 100% on theirs.

Besides their abysmal performance, I don't think that Trend7 is suited to most investors. On average, they make 1-2 stock recommendations each day. So far this year, they've suggested nearly 300 stock trades. While they claimed to have made money, I have neither the time nor the energy to examine 300 data points to find discrepancies. When you choose 300 different investment positions, you're bound to have a few good winners, but I also saw a lot of losing trades in their list.

My bottom line is that I don't need a new stock idea every day. What I need is about 4-7 good, thoroughly researched stock picks a year. I guess that Trend7 goes for quantity over quality in their stock picks. In any case, it doesn't look like I will be continuing my Trend7 subscription beyond its 14-day free trial.

P.S. One more note: I'm going to give another plug here for PFStock, my favorite personal finance and stock investing blog.