Manutius (25.45)

Journal 22 Oct 09

October 22, 2009 – Comments (0) | RELATED TICKERS: RPM , PSEC

I had to leave home before opening bell and as I felt the market was "iffy" decided to cash out IBKR (welcome to the paddock), and spent $9 to protect my gains in IP by cashing out temporarily. I Let everything else ride.  If it outperforms the S&P, even on a down day, it is still running.  If it's new, it's a matter of discipline to give it a fithring chance.  If it's plus but underperforming the S&P, it's worth holding, unless you have a better replacement (considering sector diversification) in hand. Everything else met one of these criteria.

Yesterday evening I performed some DD on Visa (V) and revisited Banco Santander (STD), both as possible financial sector replacements for IBKR. Still want to sniff V.s tail some more. While I don't like STD long-term it is sound and may still be a reasonable play if in a clear uptrend -- the diablo you know ...

When I returned from bridge (Bill and Warren weren't there again) I rebought IP, retaining some of the profits as it had grown to about a 8% slice of my portfolio -- I only rebought to the 5% level. My "safety play" cost $18 in commissions, about a 1% rise in opportunity cost, and purchased peace of mind all day. (We won our duplicate).  I'd rather have the 1% lift but am satisfied withal.

(Later) Visisted a new follower"s CAPsite and found a new couple of new ideas: RPM and PSEC. Thanks, rd80! (Note to self; from now on I will credit sources for ideas.)