Register
Hello, !
Edit Profile | Logout

Market Still Up -- Darn It!

Rating: not yet rated    Vote: Terrible (-3)Worse (-2)Bad (-1)So-so (0)Good (+1)Better (+2)Best (+3)
User name*: '    Password*:
or register if you are a new user
User name*:
First name*:
Last name*:
Password*:
E-mail*:
Retype e-mail*:
Opt-In: Yes, send me email from InvestorPlace Blogs regarding blog post notifications and voting/commenting bulletins, along with The Investor Post weekly e-letter. Please un-check this box if you would prefer not to receive email from us.
Privacy Policy
InvestorPlace Blogs is powered by Marketocracy. Marketocracy has authorized Investor Place Blogs as an official registrar for voting through Marketocracy's Investment Research Rating service. Registered members of InvestorPlace Blogs are linked with a Marketocracy account to establish voting power based on their performance of trading and posting on stocks.

Since prices did not fall this week my "buyback" of CLF, GTLS, TNE, LNN, AG, and STRA did not take place as planned, given my limit order price. EDU, however, did dip briefly and is back in my portfolio. At this point, prices for both Lindsay (LNN) and Cleveland-Cliffs (CLF) may never again fall to my limit.

I bought additional VE and ESV, as per my plans mentioned last week. However, I decided to become more diversified. Rather than getting more MT I bought Helmerich & Payne (HP) and Steel Dynamics (STLD). Rather than getting more RIO I bought China National Oil (CEO). Rather than getting more HEI I bought Guangshen Railway (GSH).

I bought Martek Biosciences (MATK) which may end up replacing the buyback of AG.

Is it time to sell FXP (short on China) and buy FXI (long on China)? I hope so because that's what I did.

The extended bull rally did have one good use. In my non-contest Magic Micro Caps fund I sell any stocks which are lower than they were a year ago regardless of how well they did in the past. However I put off my 1st quarter "housecleaning". With microcaps as a whole so badly down, I wondered if there would be anybody left! During the rally many micros recovered; so both first and second quarter reviews came at once. For now, anyway, it's goodbye to TRGT, ZONS, NTI, INXI, LMIA, TWIN, ACTU, NTI and MEA. Still betting that the bear market will resume, I may keep most of the resulting cash. However I immediately used some of it to buy Omega Protein (OME) and HQ Sustainable Maritime Industries (HQS).

You may notice I also added a "fishfood" stock to the Strategy Lab fund, above. This could be the subject of an entire subsequent blog.

Saturday April 19, 2008 : 09:50 PM

Post a comment

You are logged in as . Log out


Comment Preview
Preview your comment here

You must be logged in to comment. Click here to register.