I was looking around today for a stock to buy. I came up empty-handed. One of my ideas was Activision Blizzard (NASDAQ: ATVI). I was intrigued this week by reports that said the company wants to have the launch to end all launches for the next Call of Duty title. Quite frankly, I think there's a chance the company will succeed with this. So, naturally, my thoughts turned to shares of Activision Blizzard as a possible buy candidate. Although I already own the stock in a longer-term, taxed portfolio, I wanted a trade for my Roth IRA.

Well, I couldn't buy the company. It's up today (3% at the time of this writing), and I do not want to buy any stock when it's up. Not now, at any rate. The market has come too far too fast, in my opinion, and I want to trade carefully. But, while looking at Activision Blizzard, I came across this article from Ben Kuchera over at Ars Technica. He discusses comments made by the publisher's CEO, Bobby Kotick, on Sony Corporation (NYSE: SNE) and its PlayStation platforms.

GameStop (NYSE: GME) is probably the best friend to gamers who fall somewhere in between the casual and hardcore demographic. That's because CEO Dan DeMatteo has been quoted in reports as being very desirous of a price cut for the Sony (NYSE: SNE) PlayStation 3. If I read between the lines a bit, I get the feeling as if he almost wants to demand that Sony do something about its high-priced machine.

Thing is, though, he isn't in Sony's corporate shoes. Cutting the price of the PlayStation 3 is an event that I think is sure to come to pass in the next few months, but it's going to be very difficult on the company's bottom line.

Activision Blizzard (NASDAQ: ATVI), which competes with Electronic Arts (NASDAQ: ERTS) and THQ (NASDAQ: THQI), did all right in the third quarter. The publisher reported adjusted earnings per share of $0.07. That was two cents better than what analysts were counting on. As a shareholder of the company, I was pleased to see that. I was also pleased that a $1 billion stock buyback was announced.

However, I wasn't so pleased by the cautious tone of CEO Bobby Kotick. You can tell he thinks the recession may put a damper on all the rockin' fun that Activision Blizzard is having with its Guitar Hero franchise. Indeed, the market is pricing in the risk of owning Activision Blizzard shares these days.

Before, I was used to what seemed like a constant capital appreciation of my position. Now, that feeling is gone, as the stock has been struggling. The stock, in fact, was near a 52-week low at the close of trading on Wednesday. That doesn't feel right, does it? Activision Blizzard should still sell a lot of software for the Sony (NYSE: SNE) PlayStation 3, the Microsoft (NASDAQ: MSFT) Xbox 360, and the Nintendo (OTC: NTDOY) Wii platforms. Not only is the new Guitar Hero making waves, but a fresh version of Call of Duty is forthcoming.