Wednesday, June 11, 2008

Stocks Update: Beware the Ides of June?

Between June 3 and June 11, my portfolio took a hit. I had sold almost everything prior to June 3, but put a small toe back back in the water recently to buy Pfizer. As a result, I am now down almost 3,000 dollars since June 2, 2008. Given the overall size of my portfolio, I am not concerned (although my ego has taken a severe hit). Most of the open positions are in a retirement account, and I am perfectly happy waiting four or more years for Pfizer, my current largest holding, to get back on its feet.

Have we hit the bottom yet? Probably not in all sectors. Future earnings per share (EPS) for almost all companies need to be adjusted downward. But with respect to the shares below, I would not have bought them unless I believed they were near a bottom. I still believe that the shares below are near or at a bottom. One year from now, I will issue a new "Stocks Update," and I expect each and every stock below, except for EWM, ICE, and IF, to be in positive territory. ICE probably will be so volatile it won't make much money until it merges with another exchange or is bought out. EWM and IF, two international ETFs, were bought as long-term hedges.

Open Positions

CNB = -2.6
EQ = -4.44
EWM = -2.26
GE = -1.52
ICE = -1.31
IF = -7.2
PFE = -8.57
PNK = -1.36
PPS = -2.24
WYE = -2.43

Total: losing/negative average of 3.39%
(DJIA lost 3.35% from June 2 to June 11)

Other Open Positions
06/11/2008 Bought 2000 PFE @ 17.65

Closed Positions:
Daytrades: PFE (+0.5%)

Held less than 7 days: MMM (0.5%), MRK (0.1%), SCUR (15%) (Overall record in this category is a 5.2% average gain)

The information on this site is provided for discussion purposes only and does not constitute investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities or make any kind of an investment. You are responsible for your own due diligence.

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