"Blame it on the River"

The blog, "The Pendulum Swings," has one of the best macro-views of the current financial crisis:

http://tradecoholdco.wordpress.com/2008/08/27/blame-it-on-the-river-not-on-the-bank/

Today, Congress failed to pass the bailout bill (the Emergency Economic Stabilization Act of 2008), causing the Dow to drop 700+ points. The Nasdaq took an even harder hit, falling over 9%.

I took the opportunity to add to some positions. Some positions I had partially sold two months ago returned above the 2,000 dollar threshold, so I am re-including them on the Stocks Update. Below are percentages as of 12:25PM on September 29, 2008. It's not a pretty sight, but the open positions are in retirement accounts, so ten years from now, I hope to have the last laugh.

Open Positions
CCT = -13.86
EMC = -13.88
EZU = -15.73
GXC = -13.92
IF = -29.79
SWZ = -12.34
VPL = -11.24
YHOO = -12.86

[Average of "Open Positions": losing/negative average 15.44%]

Closed Positions:
Held more than seven days but less than one year (from May 30, 2008):
CNB = +10.0
EQ = -8.83
EWM =-11.61 [sold 9/22/08]
EWS = -12.98 [sold 9/22/08]
GE = -6.4
GLD = +8.61 [sold 9/22/08]
INTC = 0.0 (excluded from average; insignificant movement)
KOL = -10.36
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 for 7 days+ trades: lost an average of 3.92%]
[-50.90 / 13 trades]

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]; [GOOG (5.4) [9/29 - 9/30]]; GRMN (-6.2%) [Sold 8/5/08]; ICE (2.0%), MMM (0.5%), MRK (0.1%), KOL (13.2%) [9/17/08 to 9/19/08]; 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 for ultra short-term 2 to 7 days trades: gained an avg of 3.49%]
[41.9 / 12 trades; doesn't include GOOG trade on 9/30]

Daytrades:
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 for daytrades: Gained an average of 1.76%]

Compare to S&P 500: losing/negative 18.82%
[from May 30, 2008 (1385.67) to mid-day September 22, 2008 (1124.84)]

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.