Balance: Inception 01/07/11
$1977.32 Stock
$13.65 Cash
Total $1990.97
Balance: End of Week 28 07/29/11
$1,295.64 Stock$1,358.71 Cash
Total $2,654.35
Since Inception: +7.30%
Excluding cash inflow of $518.00 we have a balance of $2,136.35. Thanks to a major move in (WFT) Weatherford International last week I was able to increase my return on the week up +3.80% from last week’s results. As you can see I have a majority of my portfolio in cash. The main reason was I had a strong move in WFT and I knew it wouldn’t last. I was able to make a return on my investment north of 16.0% in roughly 2 weeks. I would be crazy not to take some off the table.
Also, with the ongoing news about the debt ceiling and the negative press gave me another reason to sell. Political issues truly do matter whether people like it not. Many times stocks move down because people are worried and they panic, which creates a huge sell off like today. I believe this sell off is way overdone and I will be looking to get back into the market very soon! Today’s selling action offers a perfect opportunity to get back into the market at much lower prices.
Have a great night!
Clay-
Current Holdings:
Apple (AAPL)
Cosi Inc. (COSI)
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