Well, my streak of selling too soon continues with SLM. Now over $10! Aaagh, oh well can't be greedy, but definitely something to pay attention to, as in SLM and XL, I had great timing, valuation support, but chickened out after 50% return. Great numbers, but in this situation, patience and perseverance would have been rewarded. XL over $11 is painful.
Good news, bought back RIG at $72, sold at $83, now back to $76. Wonder how that will work as frankly this is not based on hard analysis. NOW with APOL, I did the grunt work, and that one crushed it today in earnings and is at $72, not bad at all for a pretty low risk stock, at least on economics (risk is regulatory). Bought at $58, so 22% not bad with market basically flat in interim. Now if only ACE could move, it is stuck in the mid forties, I think earnings will be a catalyst as BVPS growth will be apparent. JPM is flat for me as well, though apparently I-bank will be strong. SKF has been painful but still downside support, and am flat on the SDS, also downside hedge. Am about 20% cash as well.
Tuesday, June 30, 2009
Friday, June 12, 2009
Moves
Sold SLM today 47% gain not bad, probably will go up, there is additional value but I am getting ancy on this market, and have not been following the stock too closely. I also cut in half my RIG position yesterday taking a 30% gain, since it just seems that oil is ahead of itself. That being said still have my BP and it is kind of my inflation hedge. I also sold BECN a legacy position that I basically broke even on over the past 2.5 yrs. At one point I had a 50% gain, and at one point a 50% loss! Also have not been following the stock so out it goes. So have raised a bit of cash. Am thinking of buying a little bit of SDS which is the ultrashort on the S&P to go with my SKF as I look to play defense. It is either that or raise more cash. Not sure.
I do have ACE and APOL which are pretty defensive as well so overall my portfolio is quite defensively oriented. If the market surges from here i will miss out, but on the other hand if it declines will definitely outperform, which as i don't have a job, is much more important given my job prospects are correlated with the market.
Was looking at MI as a possible long, speculative but it needs to come down more and complete its ATM capital raise.
PS: I just bought some SDS, small position between that and the SKF it is about 6% of my portfolio so some downside protection, cash I am at about 30% and the rest is long individual names: ACE, APOL, SBUX,JPM, BP and RIG now that SLM and BECN are gone
I do have ACE and APOL which are pretty defensive as well so overall my portfolio is quite defensively oriented. If the market surges from here i will miss out, but on the other hand if it declines will definitely outperform, which as i don't have a job, is much more important given my job prospects are correlated with the market.
Was looking at MI as a possible long, speculative but it needs to come down more and complete its ATM capital raise.
PS: I just bought some SDS, small position between that and the SKF it is about 6% of my portfolio so some downside protection, cash I am at about 30% and the rest is long individual names: ACE, APOL, SBUX,JPM, BP and RIG now that SLM and BECN are gone
Subscribe to:
Posts (Atom)