Just a quick note for any of you who are depraved enough to actually be curious the ones I have listed as top picks are companies I actually own except in the case of the magnificent thumbs down its a company that I have cause to strongly detest.
Well yesterday was a bad day for stock prices unless you were holding some serious short positions. I had the good fortune to sell my S&P 500 Indexed mututal fund a week ago. No not that I'm the amazing creskin and saw the decline coming, its that I am consolidating bank and brokerage with USAA which will drop me from 4 bank/brokerage institutions to 3 and at the end of the year down to 2. USAA didnt hold the S&P fund I had, no biggie the fund was overpriced compared to theirs and the fear of a mighty capital gains tax kep me from selling it. [more]
I am now officially the coldest player on caps over the past week having gone from all star to the bottom 20% in a week. Wow quite the downward trend. Some of this is the result of oil companies getting a boost with the prices going higher. Others are due to the fact that while the S&P is going up some of my favorite companies are going the other way for example BWLD, PRAA, JBLU, etc.... In my real portfolio I look at these as buying opportunities since other than JBLU (which missed earnings estimates by 2 cents) nothing has really changed in the rest of these companies. Mearly that they have fallen out of favor for the moment as well as some momentum riders chasing upward trends on my underperform calls. I'm standing pat on most things my two most daring underperform calls GOOG and NYX arnt the ones hurting me its the rest, here is to me bouncing back on CAPS and more importantly on real portfolio where I intend to take advantage of these downswings. [more]