Stocks Update

The WSJ hurt all casino investors today. Pinnacle Entertainment (PNK), the casino operator I recommended earlier, fell over 6% today. The probable cause? The front page of the WSJ had an article about casinos being laden with debt and being poor investments in a recession. Smaller casinos like Boyd Gaming (BYD) as well as larger ones (MGM, LVS) plunged. While I only lost a few hundred dollars (about 300 dollars) on the PNK trade, my percentages decreased significantly. My major holdings are still in GE and PFE. I sold the 1000 shares of General Electric I bought last week and made a few hundred dollars on that trade.

Open Positions
CNB = +3.99
EQ = +0.22 (excluded; movement too limited to be relevant)
EWM = -6.82
GE = -6.64
IF = -8.83
PFE = -7.64

Average of "Open Positions": losing/negative average of 5.19%

Closed Positions:
Held more than seven days but less than one year:
PNK = -16.7%
PPS = -2.8
WYE = +2.4%

Held less than 7 days:
GE (1.0%); ICE (2.0%), MMM (0.5%), MRK (0.1%), PFE (1.3%), SCUR (15%) (Overall record in this category is a 3.31% average gain)

Daytrades:
PFE = +0.5%

Average of "Closed Positions" sub-categories, except for Daytrades: losing/negative 2.39%

Combined Total Averages, excluding Daytrades: losing/negative 3.79%

Compare to S&P 500: losing/negative 7.27%
[from May 30, 2008 (1385.67) to July 1, 2008 (1284.91)]

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