Indices were given a nice surprise by Jobs data which came in above consensus. Job growth has been lagging, this report changes this perception. All indices closed @ highest level for 2013 & and beyond.....
S&P 500 @ 1614.42, high 1618.46
RSI @ 64.15
CMF @ 0.275
Internals were :
UP volume led by 3.60 to 1 in NYSE & 2.95 to 1 in Nasdaq
Advancing stocks led by 2.73 to 1 in NYSE & 2.81 to 1 in Nasdaq
Net new 52 wk highs were leading by 452 in NYSE & 246 in Nasdaq
VIX Down 5.45% @ 12.85
Oil @ $95.61
Gold @ $1464.20
Canadian $ Unchanged @ 99.21
In my portfolio :
Sold HMC
Sold JCP
Bought KOG @ $7.92
Added 150% AUY @ $12.07
Portfolio weighting :
BBRY 31.99%
EBAY 24.22%
KOG 22.70%
AUY 21.09%
Exposure 100%
Stocks which were UP 2% or more included KOG
JCP AMZN EXPE PCLN TCK CLF M V
PANW CRUS MU JDSU CIEN FNSR
SNDK SBUX X STLD CCJ MS,FCX.....
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hey Saleem,
The change to fully bullish paid off this week as the portfolio gained 2.8% versus the S&P's 2.0%. Major movers this week included CSOD (+13.0%), RALY (+9.4%), SRPT (+7.7% before selling), SWC (+6.05% from purchase), and SPLK (+5.2%). Only WPRT was a standout loser at -5.0% from purchase. Here's the portfolio now:
Industrials/Materials: AXLL SWC KOG WPRT BTU APWC
Software: PFPT CSOD MODN SPLK RALY MRIN
Housing Derivatives: RDN Z
Cash: ~6%
The moves I made this week were around the edges, changing out some materials stocks for others (-CLF/FCX/MCP +SWC/WPRT/BTU) and selling SRPT (-SRPT +Z). The highlight of the week was CSOD post-earnings. After some initial selling, the buyers came full force accumulating positions. Although it may need to rest as a stock right now, there's nothing stopping its trajectory as a company.
This is a really big week for portfolio earnings with AXLL, MODN and Z on Tuesday, and then MRIN on Wednesday. I am anxious about all of these either due to price action (AXLL/MRIN-weak, Z-strong) or newness (Z-me, MODN/MRIN-everyone). Given that the market is fairly forgiving right now, I hope for the best and trust that I've got the right companies. Obviously either way, this gives me a good chance to evaluate these for continued holding in the portfolio.
The general market is so resilient right now that there's not much to say. Good news, bad news, it doesn't matter much. This may sounds scary like there's too much bullishness, but I think it's really a case of resetting the economy based on the sequester and payroll tax resumption, and now we can move forward from here. Some of the very most recent data points suggest we may be seeing that upward move start again (national ISM not as bad as regional surverys, consumer confidence beat, jobless claims 5-yr low, jobs number way ahead of low expectations). It is amazing what a roaring stock market can do for confidence too.
Beyond the macro economic data, I think so key to this broad market rally is the ability of companies to really streamline operations creating efficient, profit-making machines. Any uptick in revenue from a better world economy will flow directly down to the bottom line. Not only could we then see nicely improved earnings, but investors may be willing to pay more for those earnings (multiple expansion) if the growth path of the world appears more sustainable. Given this, 2013 could really be a fantastic year for the stock market, even from these lofty levels already.
My strategy for this week is to focus on the earnings of my reporting companies, and then take advantage of other overbought/oversold conditions in my portfolio or closely watched stocks. I do recognize that we often see things really slow down in the summer months and some small cap stocks fall asleep for long periods. I'm looking to deploy cash in possibly FCX given the copper surge, TOL to play high-end housing, or PRU on even a small pullback.
Looking forward to hearing from some of my newer companies this week! :)
Stocktrader
Hi Stocktrader,
I am happy that you beat S&P 500 by 40%....that is very impressive.
You have good assortment of high beta stocks...when they move they move big as evidenced by your individual return.
Good luck with your ER.....
Saleem
Post a Comment