Today was a terrible day for the market and for investors in the market. One my major holdings, KOL, declined around 9% today. So much for diversification being the key to stock market gains--gold, oil, tech, and international markets all declined today on a possible Lehman Brothers (LEH) liquidity problem.
Nothing new to report trade-wise, except I sold most of my CCT position, netting a positive gain. I am not including the gain below. Although I still own 75 shares, my holdings are below the required 2,000 dollar threshold for inclusion in this blog.
I picked up 1000 shares of TTWO today and will look to sell this week.
Since June 2007, my retirement accounts moved today from being in the black to slightly in the red. I am not happy, but I keep reminding myself that I am well-diversified and should have a long term investment horizon. I am not sure if we've experienced "capitulation" yet, but it sure feels like it. If I had more available cash in my retirement accounts, I'd be adding to my positions below. At the same time, the market may be extra-skittish with September 11 approaching.
EWS = -13.23
EZU = -10.72
GLD = -6.17
GXC = -9.16
IF = -17.79
KOL = -21.23
SWZ = -10.19
YHOO = -11.80
[Average of "Open Positions": losing/negative average 12.53%]
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]
WFR = +0.9 (approx; based on partial sales week of 8/4/08 in two separate accounts)
WYE = +2.4%
[Overall Record: Lost an average of 2.82%]
Held less than 7 days:
DUK = (0%, excluded from avg) [8/07/08 - 8/14/08]; 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%), NVDA (8.0%) [8/12 to 8/13/08]; PFE (1.3%), SCUR (15%); SO (-0.3%) [Sold 8/5/08]; TTWO (4.3%) [partial sales on 8/5/08, 8/7/08, and 8/8/08]; TTWO (2.2%) [9/9/08 to 9/12/08]
[Overall Record: Gained an average of 1.68%; does not factor in TTWO's recent sale]
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 11.6%
[from May 30, 2008 (1385.67) to mid-day September 9, 2008 (1224.51)]
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