The Open Portfolio is now being moved into my premium WSW Power Investor members only area. I have three levels of service. Free, the monthly newsletter, and the upper tier Power Investor private group.
Posts on Mike Swanson's portfolio - trades and performance updates.
For the most recent spread sheet file with portfolio positions click here.
For the most recent spread sheet file listing all portfolio trades click here.
For the most recent spread sheet file listing all portfolio trades for 2012 click here.
It is one of the lowest valued stocks I have been able to dig up lately when you look the price being paid for earnings growth. It is a gold exploration and production company with a mining operation in Egypt.
I bought two new stocks today and sold some lagging positions.
I just sold my GDXJ gold stock ETF position. I still own other gold stocks.
I am now about 96.4% invested. I have a little bit of cash and may use it shortly within the next week or two.
I'm taking two small losses on these positions. Reason why I'm selling is before I sold I was on a little bit of margin.
I have been looking to use the rest of the cash in my account this month in the expectation of more gains in Europe as European markets breakout and a move up in metals and mining stocks that will eventually take out the HUI resistance level to mark the start of a giant bull market. They dipped and are turning up today so I am buying now. I had sent out a Power Investor Report this morning about the stocks I was looking at for potential buys.
I just bought seven new positions today. I put about 1.3% of my money in each one - that's what I'm doing building lots of small positions up in my account. At the moment I'm about 88% invested. In the commodities markets the action is getting more bullish. Stocks are just breaking out a day at a time. Some yesterday, some today, some next week etc.
It looks to me like metals and mining stocks are going to continue to base for another 1-3 weeks and then breakout to begin a bull market. If things play out I will likely put my remaining cash to work in more commodity related and mining stocks.
I just did some new buys in Greek banks stocks today. These are LONG-TERM positions that I plan to hold for several years.
I just sold 4,000 shares of SDS @ 39.09 and took profits on this position. SDS is an ultra-short ETF designed to go up when the market goes down. I was using it as a short-term hedge on my long positions when I bought it back in May on the day the S&P 500 made its last peak. I think the market is still in a correction, but likely to float around a few weeks before it drops anymore. We can see some positive action as earnings come out and I may put the position back on later this month.
I just bought 1,000 shares of SDS @ 40.46. This is a 1,000 share addition to a 3,000 share position I bought in May the day the market topped out. As I have been saying I believe we are in a market correction and that this bounce of the past few days will peak out soon and then the market will resume its correction. This 1k share position is not a huge position for me, it's just a small addition to a position I bought over a month ago.
I had a 11k deposit clear today in my open portfolio. I was lucky to be able to get some money in hand earned from some of my other businesses that I partly own to make this deposit, because I believe June is going to be a great month to buy stocks. I post on this site my real trades - what I am really doing - as opposed to just yelling out stock picks. I want to talk about what I am really doing and thinking.
The stock market has been going straight up now for days after going up for months. At some point it is going to have a correction and it could happen at any moment. Today the DOW went up 100 points and is now almost even - it looks like a potential reversal day. This morning the Investors Intelligence survey showed that 55% of the people are bullish on the stock market - a level not seen in years.
After that hour of trading gold stocks went in the green. If they close up today it will appear to me that they have made a false breakdown today and will likely have completed a retest of their lows. We'll have to see what happens of course, but if they then go up tomorrow it will appear to me that the HUI will play out something like I have drawn in this chart as a potential projection.
I believe that metals and mining stocks are going to stabilize this month and form a base to launch a real new bull market off of so I am trying to make some deposits in my account with the intention of using them to buy in new metals and mining positions in a few weeks.
I just bought three Greek stocks today. HLTOY is Greece's largest telecom company and serves customers all over Eastern Europe. NMM and GLBS are two Greek shipping companies paying big dividends, so they are not just a way to place Greece, but the shipping sector too, which appears to be in the process of breaking out of a stage one base and starting a new bull market right now.
I am doing a little selling in a few positions today. I bought them the other week, but I now think the correction in the market is going to last a little longer than I was thinking when I bought them. At the time if the market had gone lower last week I had thought the correction would end. But the move up in the middle of the week makes it more likely that it will now last for another 3-6 weeks. So I think I bought these positions a little early.
Finally we are getting a little bit of a pullback in the stock market and a drop in gold and commodities. I have been wanting to build a commodity position for weeks so I am going to start to buy some commodity stocks today.
I'm buying into the coal and shipping sectors today. Buying:
VLCCF 750 @ 6.71
ESEA 5000 @ 1.00
CNX 150 X 32.91
BTU 200 X 23.13
WLT 140 X 36.16
KOL 200 X 24.15
RNO 350 X 14.27
RNO, VLCCF both pay dividends of over 10%. ESEA pays 5.90%. The others pay 1-3%. RNO is also a coal company.
I just made an $8,000 deposit to my Open Portfolio. If you are new this is a model portfolio I setup using Google Finance to mimic my real trading/investing account. Instead of picks I believe the best way to help you is to show you what I'm really doing. One thing Google doesn't do though is keep up with dividend payments, so a big chunk of this $8,000 deposit is a record keeping deposit to keep up with dividends I've gotten in my trading account this year. Instead of getting checks for them I'm just depositing them in my account.
In fact I see a lot of sectors and stocks in them that look to be lining up to start new bull markets of their own this year. Whenever the market does pullback and have a correction I plan on putting more of my money to use by buying in these sectors and stocks that I think can go up a lot this year.
I just sold 275 shares @ FCX for 31.15 in my portfolio. I had about a 5% gain on this position and then yesterday it gapped down huge and fell 15%. The company announced that it was going to buy two other companies - MMR and PXP that are in the energy production and exploration business. The CEO of FCX sits on the board of directors of both of these companies and owns millions of shares in them so it smacks of a conflict of interest. Wall Street obviously does not like the deal as it is punishing FCX stock.
We are still in a corrective phase in the market and I do not see a sign that it is over, but it seems to me that in 2-3 weeks judging by sentiment surveys we will be in a new uptrend in the market. How we get there though is not totally clear to me. We either will see the market bottom here and just go sideways and then turn up in December or continue lower and have another panic drop. That could lead to further losses up to 5% for the US market averages and is a big possibility.
JOIN: WALLSTREETWINDOW FREE MEMBERSHIP
* Join and receive the Two Fold Formula guide to picking stocks and combine tested fundamental valuation metrics with technical analysis.
*Align yourself with the big trends of the stock market and be alerted when these trends change.
*Receive free updates when we see an investment opportunity in an emerging sector before the crowd gets in.