With so many stocks transforming into great charts the past 1-2 weeks, there is no reason to hold on to some of these laggards. Hence, I am going to punt the last 0.3% allocation of Assured Guaranty (AGO) in the mid $20s area. This will be a 11% loss on the small stake remaining.
60% of the position was stopped out in $21.50s on Feb 4th; ironically during the January correction this was the 2nd to last stock we owned to break below the 50 day moving average - exhibiting great relative strength. But in the February rebound, the stock has withered and not performed. We'll open up a slot for stocks with more promising near term charts.
On the other hand, Indian Bank HDFC Bank (HDB) is looking better of late, so I will add a 1% allocation to this name despite a valuation that I find quite expensive.
Long HDFC Bank in fund; no personal position
Tuesday, March 2, 2010
Bookkeeping: Closing Last of Assured Guaranty (AGO); Adding to HDFC Bank (HDB)
Posted by
Mark
at
10:00 AM
Bookkeeping: Closing Last of Assured Guaranty (AGO); Adding to HDFC Bank (HDB)
2010-03-02T10:00:00-05:00
Mark
Assured Guaranty|
HDFC Bank|
| Edit This Post |
Create A New Post
Labels: Assured Guaranty, HDFC Bank
Bookkeeping: Closing Last of Assured Guaranty (AGO); Adding to HDFC Bank (HDB)
2010-03-02T10:00:00-05:00
Mark
Assured Guaranty|HDFC Bank|
Subscribe
Archives By Date
Best Of FMMF
- Blogroll
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows