Indices rebounded after all the bad news was digested, on free fall Thursday.
Indices closed near high of the day.
S&P 500 closed @ 1335.02, high was 1337.82
RSI @ 51.16
Internals were :
UP volume led by 2.07 to 1 in NYSE & 2.43 to 1 in Nasdaq
Advancing stocks led by 2.20 to 1 in NYSE & 2.37 to 1 in Nasdaq
New 52 wk highs were leading, 41 in NYSE & 62 in Nasdaq
VIX tumbled 9.81% @ 18.11
Oil closed @ $79.76
Gold closed @ $1566.90
Canadian $ Closed @ 97.61
Portfolio is COH,LVS,LEN,NTES,JCP
NTES 33.83%
COH 29.03%
LEN 15.37%
LVS 13.74%
JCP 8.03%
Exposure 119%
Portfolio is COH,LVS,LEN,NTES,JCP
Here is my portfolio weighting as of tonight :
COH 29.03%
LEN 15.37%
LVS 13.74%
JCP 8.03%
Exposure 119%
Stocks which were UP 1% or more included LEN,
KORS,LULU,CMG,PCLN,LNKD,SU,BIDU,
GOOG,MA,V,ZNGA,MU,BRCM, VECO,
JDSU,CIEN,SNDK,NAV,FB......
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hey Saleem,
This was an unintentionally busy week for me. I was heavy in cash going into the week but did major buying Monday, sold again Thursday, and then bought it back again today. I hope future weeks prove less transactional as this is not my overall plan.
My portfolio stands as follows:
CTXS - 8.5%
NUAN - 8.5%
ERY - 7.2%
GWAY - 7.1%
WWWW - 6.7%
MOS - 6.6%
APKT - 6.6%
M - 6.5%
CMI - 6.5%
PAY - 6.4%
GGC - 6.4%
ADNC - 6.1%
PFPT - 5.8%
ETN - 5.5%
LEN - 3.4%
APWC - 2.1%
(cash) - 0.01%
As you can see, I hold more companies than I usually do with lower average concentrations. I feel these companies have compelling stories or earnings power at undeservedly low valuations and so I wanted exposure to them all (ERY being the hedge). This also gives me less concentration during earnings season so that disasters can not affect the overall portfolio as much.
With Europe slowly coming to consensus on banking solutions and growth stimulus, and emerging economies easing monetary policy and conditions, we could be in for a nice run prior to fiscal cliff major worries.
I'm looking at CLF for possible investment, and would like to add to LEN if the price action is good after earnings. Maybe when I take off the ERY hedge, I can look to make some of those moves.
We might actually get a quiet weekend for a change--Enjoy! :)
Stocktrader
Hi Stocktrader,
YES..we need a quiet weekend after last week.....
My max in terms of portfolio is 7 stocks......but work with 5 normally..don't know why..but with 5 i feel more in control...
Enjoy your weekend !!!
Saleem
SALEEM
I like his diversification
Awesome
I have been smacked hard when I get onboard with one stock...
that is the reason that I have sold apple so often
to much money in one stock $$$$$, 100 shares equals $60,000 or so....
I got 16 stocks for my piece of mind
C
Hi C,
Diversification is an individual decision..
I tend to stick to 5 & have never regretted.....
You & Stocktrader have 16 stock...which is OK ......
Saleem
Hey Saleem & c,
I usually have more like 10-12 stocks, but it happens that I like so many ideas and companies in the market right now! :)
I was doing some research over the weekend, and NVDA is on my radar now too. They are making huge inroads in the non-AAPL tablet market, which could be a great area of growth for many years.
Here's an article I read on the subject:
http://www.forbes.com/sites/greatspeculations/2012/06/20/nvidia-just-scratching-the-surface-stock-going-to-21/
Also, M is more like a month trade for me rather than an investment (I don't usually do retailers). I feel it is highly oversold and coupled with a back-to-school season that could see additional spending given low gas prices, I think M might have a 20% run on oversold catchup and then good sales.
Stocktrader
Hi Stocktrader,
NVDA is interesting based on its forward earning of 94 cents.
M is @ lowest level in a long time....
Saleem
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