Thursday, June 3, 2010

Bookkeeping: Bought Back Some Tibco Software (TIBX) and F5 Networks (FFIV)

Tibco Software (TIBX) and F5 Networks (FFIV) were the last 2 stocks in the portfolio to succumb to breaking key support; they actually both broke down a week ago Tuesday when the S&P 500 had the morning selloff that took it down to the 1040s level. Not knowing that would be the 'bottom' I did the prudent thing and took off exposure on both. Since then of course the market has rallied some 60 S&P points and both stocks are once again showing nice relative strength. This does not mean if the market drops 60 points down and a new selloff begins they will hold up, but if one is looking for stocks to add to, these are as good as any.

I'm adding back to both today, nothing over the top (less than 1% into each) as I inch back into some long exposure. I like the 'action' in some other names as well, but I am going to wait for tomorrow's fireworks before adding. If S&P 1106 breaks I would not be surprised to see a quick run to 1130ish. For some reason this break over that level tomorrow feels "pre ordained" but maybe it's just the Kool Aid talking.

Long both names mentioned in fund; no personal position


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