Saturday, August 07, 2010

One Month (plus) later

Selling over 50% of my portfolio has still proven to be the right move (June 28th) despite the relatively bullish market since. The stocks I sold are down 2.2%, the stocks I kept are up .7%. Then the few stocks I bought post 6/28 with the proceeds are up about 9%. I am still skittish and about 45% in cash.

Did get earnings on a number of my stocks.

UNTD - they were disappointing and dropped about 15% in a single day. People are still buying flowers, but Classmates.Com is floundering and the dial-up service seems to be dying.

IPXL dropped 3%, but has since gotten it back. I think their temporary gains from being 1st to market are finished, but it really strengthened their balance sheet. I still see them as a buyout target.

CF - had so-so earnings, but with the drought in Russia these ag plays are starting to look better. I actually doubled my holdings this week as I expect the acquisition of TRA to start paying off.

PRSC - they announced their earnings (They were one I re-bought post my sell-off) and as I anticipated they were quite good. I am generally very worried about any stocks that rely heavily on govt money/rules right now given the Obama administration and the general state of the fiscal balance sheet. I think that has underpinned the drops in stocks like AMED, COCO, APOL, ESI, RTN etc. PRSC is more reliant at the state level, but I may take some $ off the table as well.

Finally, not sure what to do about TTT, which has been a weird stock. They split into TTT and KHD a few months ago and I have received additional stock dividends. Now they have a rights offering which allows me to buy 25% more shares of TTT at $6.60 between now and September 2nd. I suppose I'd be stupid not to do it as the stock currently trades at $8.17... though I expect the price to drop due to the dilution.

I think that is it. Have a good weekend. I am off on holiday starting next week.

1 comment:

文王廷 said...