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Portfolio has definitely turned to the upside as my hold and wait strategy on the micro caps is finally working out. I did dump a couple of non performers, but after a few more micro cap pickups including China Precision Steel (CPSL) the stock picking is over for the near future.
I currently have 12 positions of which 33% is invested in China and 26% invested in copper and gold mining companies. If I was managing a real fund, I certainly would not include 33% of any sector no matter how hot the market is. I am a high risk taker but that is just too much.
This however, is a stock trading contest with emphasis on the short term, large gain. China continues to be a very hot market so I jumped on that speeding train and will ride it until a market correction comes along.
I am also very impressed with the two mining companies that make up 26% of my portfolio. Taseko Mining Co., (TGB) was just selected to be included in a Mining Index Fund. This latest news has continued to move up the stock price rapidly. Based on fundamentals, this company is rock solid and priced very cheaply. This stock has more then doubled in the last year and could triple by the end of the December. ($2.10 October 2006, trading around $5.50 September 2007).
The fine tuning includes such stalwarts as Cisco Systems (CSCO) and Ultra Petroleum Corp. (UPL) These two organizations are performing well fundamentally and should continue to do so over the next few months. As the price of oil continues to climb so goes the stock price of Ultra Petroleum. Cisco Systems surprised Wall Street with a much better then expected performance during the last quarter. I feel certain their stock price should continue to outperform the market till the end of the year.
I am waiting for Energy Commerce Group (EGR) to advance its stock price sometime in October. In short, the company should be profitable for the first time. Their fiscal year ended 7/31.(Waiting on their year end financials.) Take a look at their Q3 financials and their YTD numbers. This should be the year they break into plus column. Priced at a paltry $2.00 a share, this company is poised to do some great things. This energy sales company thrives in a market where like organizations are trading in the $30.00 and up range. This stock could be a major player at some point and the price is too good to pass up.
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