Tuesday, August 5, 2008

Stocks Update: out of SO/GRMN, in WFR/TTWO

Numbers below are based on prices at market's close on August 5, 2008.

I sold Southern (SO) after seeing it listed as one of the highest sold-off stocks (largest outflow of money) this week. Someone seems to know something I don't, and that makes me uncomfortable. I lost about 30 bucks on the trade, including the dividend payout.

I sold Garmin (GRMN), taking a loss. I violated the rule of never catching a falling knife.
However, I wasn't completely off my rocker, because I bought only 80 shares, intending to average down slowly. In the end, I only lost around 180 dollars.

Since posting trades publicly, SO and GRMN are the first times I have lost money on short-term trades (held less than 7 days). Most of my short term trades--the ones I intend to be short-term--are major trades of 500 shares or more. My losses on SO and GRMN were about two hundred (200) dollars total, and I did not intend for them to be short-term trades, so I'm not concerned.

My two main holdings now are WFR (bought more today--stock went down because a storm might affect production--unless this storm is called Katrina's Sister or the Second Coming of Katrina, wake me up when it's over) and TTWO. I sold 150 shares of my TTWO holdings today, and now own 250 shares. I also have CCT, most of which was bought many months ago, and I am slightly positive on CCT.

The Fed decided to stay pat on interest rates. This should be good news for my international bond funds.

Open Positions

DUK = [bought on 8/7/08]
EWM = -5.73

EZU = +1.55 [excluded from average, insignificant movement; will be excluded completely in the future b/c I realized I only own 30 shares, below the 2,500 dollars basis or current value threshold for inclusion]
IF = -7.13
TTWO = +4.89
WFR = 0 [excluded from average;
new position]

[Average of "Open Positions": losing/negative average 0.72% [changes with addition of DUK and sale of VNQ on 8/7/08]

Closed Positions:
Held more than seven days but less than one year (from May 30, 2008):
CNB = +10.0
EQ = -8.83
GE = -6.4
INTC = 0.0 (excluded from average; insignificant movement)
PFE = -5.5
PNK = -16.7%
PPS = -2.8
VNQ = +2.37 [sold 8/7/08]
WYE = +2.4%

[Overall Record: Lost an average of 3.97% [does not include 8/7 sale of VNQ]]

Held less than 7 days:
GE (1.0%); GOOG (0.8%) [7/28/08 - 7/29/08]; GRMN (-6.2%) [Sold 8/5/08]; ICE (2.0%), MMM (0.5%), MRK (0.1%), PFE (1.3%), SCUR (15%); SO (-0.3%) [Sold 8/5/08]; TTWO (4.3%) [partial sales on 8/5/08 and 8/7/08]

[Overall Record: Gained an average of 1.72%
[does not include 8/7 sale of TTWO]]

PFE = +0.5%
GE = +0.5% (Updated on July 14, 2008; bought at 27.15, sold at 27.30)
XLF = +4.3% (Updated on July 15, 2008)

[Overall Record: Gained an average of 1.76%]

Compare to S&P 500: losing/negative 7.27%
[from May 30, 2008 (1385.67) to close on August 5, 2008 (1284.88

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.

No comments: