- I am increasing my financial exposure by returning to Blackrock (BLK), a position I've held in the past. This is an asset manager and 'best of breed' in my book, and does not seem to be exposed in any way to the mess that is the credit crunch. This was one of my '12 New Stocks to Buy on a Pullback' and although I was hoping for more of a pullback then this, the stock is sitting at its 20 day moving average ($204) and refuses to fall further the past week, which is an impressive feat. Since I've owned this name in the past, I am restarting this position in quite large fashion with 100 shares or $20.5K (1.7% of fund). Earlier posts about Blackrock can be found here. (please note this is not Blackstone Group the private equity outfit)
- I am continuining to add to LDK Solar (LDK) here in the $45s range. I see worst case downside to $40, and once sanity returns to the name, a move back to $50s should be very reasonable in relatively short order.
- Speaking of financials I've added to my existing Mastercard (MA) as well, which again only seems to fall to its 20 day moving average. I was hoping both it and Blackrock would fall to its 50 day moving average but the relative strength in these 2 names is enormous.
- I'm adding to infrastructure name Chicago Bridge & Iron (CBI), which is yet another stock which is showing fantastic relative strength - not falling below its 20 day moving average.
- I'm adding to iShares Malaysia (EWM) which has fallen off the cliff. (considering its an index) - it traded in low $13s just over a week ago, and yesterday was down almost near $12. I have cut back a lot of my Asian index exposure by selling iShares Singapore (EWS), and iShares Hong Kong (EWH) over a month ago, but I still like Malaysia due to being a petroleum and natural resources based economy. While I like all these countries in the "very long" run, for now I am focusing only on Malaysia until the 'next big correction' happens. I do think China probably has a good run in it as well since it's been trashed for weeks on end, so I might return to the EWH soon as well.
- I'm adding to my bankruptcy and consulting play FTI Consulting (FCN), which has been lagging Huron Consulting (HURN) of late but seems ready to make a move.
- I'm adding to Peabody Energy (BTU), one of my coal stocks - the chart for Consol Energy (CNX) looks like an interenet stock from the late 90s, or a solar stock today - so instead of adding there I am going to take some profits there and actually roll that money into a laggard like Peabody.
Most of these purchases above are of the $5-$8K type of variety as I layer in (and out) of positions. Blackrock is obviously the exception.
Long all names above in fund excl. iShares Singapore and iShares Hong Kong; long LDK Solar and Chicago Bridge & Iron in personal account








