Stock watch update
Tuesday, August 5th, 2008As mentioned in the latest copy of the newsletter we have decided to change the way we show the stocks to more accurately reflect how we would trade them.
As mentioned in the latest copy of the newsletter we have decided to change the way we show the stocks to more accurately reflect how we would trade them.
We have seen another stock finally getting stopped out as Gold and oil falls back. This leaves just three stocks in the fund at present with others looking slightly vulnerable.
July has been a pretty poor month for a bullish only fund. We could have course moved completely to cash with the market moving down as it was, but you never know when it is going to turn, plus we had some stocks that may have seen gains if it did fall.
I thought I better just update the virtual fund, to adjust a couple of stops and bring it into line for the end of the month. At the close of June we ended 8% up as apposed to the S&P being down 8%.
Wow, we have seen the bears take the upper hand and the markets fall like a stone over the past month. The S&P is currently down by 8.37% for the month or 117 points. Meanwhile the Dow is down by 9.38% or 1185 points.
The long term stocks have continued to run well even though the market has been in a dive. At the close of 18th June we are up in the month by 12.55% (unrealised) as against a 4.47% loss in the S&P.
The well weighted balance of stocks/sectors in the virtual fund has ensured that whilst the S&P is down by nearly 3% in the month, the stocks are still up 7.1%.
The markets continued to see some large volatility. Fortunately whilst we have seen a small pullback in the unrealised profits so far this month, we are still positive (+6.23%) as apposed to the 4% loss in the S&P.
We have seen one a significant amount of volatility in the markets as a whole. As I publish this the S&P is down 41 points or 2.99% which might suggest our stocks may have taken a hammering.
We have seen another profitable month in our virtual fund, with a unrealized gain of 5.84% as against 1.04% on the S&P-500.