Monday, January 23, 2006

Portfolio Update and New Stops

Good news: our Friday purchases of SNDK and GRP closed up 3.1% and 3.7% today.
OK news: we sold GILD today after hitting our $56 stop. We sold 200 shares for a net gain of 12%.
I would like to get back into GILD and will watch for interday weakness. If we can't buy any, we will get in again anyway. They have a major HIV drug getting reviewed and it will make them a fortune if it gets approved. I notice that Cramer mentioned this fact on TheStreet.com. In afterhours trading, GILD closed up at $58.

The portfolio is as follows:

Stock Shares Purchase Price Stop Price
MRVL 200 49 (no stop for now)
JLG 263 38 47
JOYG 242 37.17 43
MDR 211 42.74 47.5 (new)
AKAM 603 19.89 22
STX 597 20.1 24
GRP 250 49.23 48 (new)
SNDK 175 70.02 67 (new)
Dividends $19.06
Cash $17,072
Total Value: $118,527

THINGS TO NOTE:
Increasing stop price on MDR. Removed Stop on MRVL. Set Stop price on GRP and SNDK.
If we were stopped out on all stocks (i.e. Godzilla trashed New York), we would lock in $113,600. That is ~$2,350 more than last week. That's a GUARANTEED 14.14% return in just 11 weeks (a 2.34% increase over last week's update on 1/15).

I continue to believe in going long in this market and our cash position is 14% of the total. Much too high.

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