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Stockpicking will be key in this volitile market
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I will soon be blogging on all of my stock positions and discussing each one in depth. My methods of choosing the stocks in my portfolio were varied and did not follow any one pattern. My funds include a combination of three highly different investment styles. I use what some might call a "core" and "edge" method in developing a fund such as this. For example, I have several stocks which have solid financial strength, good balance sheets, reasonable momentum, good growth prospects and are near the top of their 52 week ranges. Some of these include Johnson Controls, Research in Motion, Apple Inc., Lockheed Martin, Allegheny Technologies, and Cisco Systems. I also have some stocks that are solid financially with good growth prospects, but, primarily because of weakness in their sector of the market, are currently near 52 week lows and I believe represent values with quality. Some examples of these are Bank of America, Catapillar, JC Penney's, Best Buy Co., and Sears Holdings. Finally, I have a group of more highly speculative stocks which have potential great growth drivers, but who have not executed well or the timing isn't right for them to have appreciated their stock prices to where I think they will be. Examples of those types of stocks include, Maxwell Technologies, Photon Dynamics, and Level 3 Communications. It has been very difficult to "trade" this market. For example, I recognized that Maxwell Technologies had "run" way too far and too fast without specific news to back up why. Therefore, when it ran up 30% I tried to sell out of more than half of my position. Since I cannot really trade during the day, I was forced to try and sell after it closed at 16.5. I set up sells for the next day at 16 and 15.5 limits. The stock dropped so fast that I was not even able to sell out at a price a full point below the previous day's close. Since then, it has trailed back to 13.85 and I haven't been able to get out at a reasonable gain. Therefore, I may just have to keep the whole position and hope that it drives up again so I have a chance to trim my position a bit. Have a great day! Doc | ||
