After a steady surge in my holdings, the weather was overcast and rainy on both my hometown and my portfolio today. Citi continued its cooling, which will last at least one more day if not two, hopefully turning around by Friday. That was an expected hit to the portfolio. While I did gain a solid 1.46% on my largest holding, Akamai today, it wasn't enough to offset my losses in C, AOB, and GNBT. Now for a brief analysis.
C - A cooling was expected. The stock had three straight days of significant gains that simply couldn't sustain, so the last two days were expected. I do, however, feel that this is simply a dip on the way to $6 territory. At that point I feel that the stock will ride a continuous daily loss back down to where it is now, but the fact that the shorts haven't moved back in makes me feel like I'm not the only person paddling this opinion boat.
AOB - Not sure what's going on here. It still looks like a very healthy long term buy and the small amount of news out today was positive, but the stock took a slight dip. It is possible that it will rally Thursday and Friday, but more likely that it will remain flat.
GNBT - No real news today and their short run over the last week or two wasn't nearly the magnitude of Citi's, so their downswing of yesterday and today wasn't entirely expected. Much rides on the progress of several drugs currently in FDA testing. A leak in preliminary results would be very tasty right about now.
WM - Continues its slow march upward. I'll take half a percent a day.
SLS - Has risen 40% in the past two days (don't get excited, from .001 to .0014). Now I only need a quintupling to cover the commission to sell it.
AKAM - The stock rose today on bad news, which makes sense, right? Apple, presumably a very large customer of Akamai's despite both companies tight lips on the depth of the relationship, announced that it will be building a massive data center to deliver its own content. While it will likely take the better part of a year for the center to be up and running, this isn't good news for Akamai, and they will have to find a way to plug the hole in their balance sheet.