AXP pays off (Swapped Discover for American Express)

We traded Discover for AXP, when discover was spun off from Morgan Stanley. We also built a position in AXP when it went lower on July 2nd.

Our buy/swap recommendation that was made on July 2nd when the stock was trading at around $61.5 can be found here.

Our full position averages around $60. Today’s upgrade from Goldman Slacks paid off well. But, we are holding onto play this quarter’s earnings, when other analysts would upgrade it to take it high, higher and higher. And then we get out sneakily. hehehe Forgot to mention did you collect the dividend (penny and a dime) ;)

Snitzell out, if you were into this very short term. But we are holding on tight to this one atleast a few sessions past earnings.

Congratulations, if you bought AXP at $61.5 on our recommendation.

Your Adarsh.