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Lemley Yarling Management Co
309 W Johnson Street
Apt 544
Madison, WI 53703
Bud: 312-925-5248       Kathy: 630-323-8422

November 29, 2013

Model Portfolio Value As of 29 November 2013

$ 723,519


Comment on Model Portfolio activity

We took profits in Ascena Retail ahead of Monday’s earnings since the share price is at its high for the year. We also added to our Alcoa position during the week.

Markets remain at their highs and the correction better hurry if it is to beat the year end rally. Or maybe the year end will see a correction and not a rally. Inquiring minds and investors await the resolution.
*****

 

 

November 22, 2013

Model Portfolio Value As of 22 November 2013

$ 722,003


Comment on Model Portfolio activity

During the week we took profits in Merck, Aeropostale, and Deere and repurchased NVDIA and GE.

We have reduced our retail exposure to Abercrombie and Ascena Retail. Having sold Aeropostale we may repurchase JC Penney before year end.

The market rise continues and the time for a correction this year is getting late but never underestimate Mr. Market.
*****

 

 

November 15, 2013

Model Portfolio Value As of 15 November 2013

$ 721,974


Comment on Model Portfolio activity

During the week we purchased Altera, a chip company, and added to Ford while repurchasing Cisco after it dropped 15% on earnings disappointment and Alcoa at 10 lower than we sold a few weeks ago.

Markets don’t seem to want to go down but we continue to expect a pullback before a year move higher.
*****

 

 

November 8, 2013

Model Portfolio Value As of 8 November 2013

$ 710,981


Comment on Model Portfolio activity

In keeping with our pullback in November theme we sold several stocks to lock in nice profits while keeping about 50% plus exposure to the markets in many accounts. We don’t think the correction will be severe but markets are extended and need a rest before the push into year end.

When Abercrombie dropped 15% this week we realized our exposure to retail was too large and so we eliminated JC Penney, and American Eagle. We like both companies but JC Penney is lesser quality than Aéropostale and American Eagle is of equal value with Abercrombie and Ascena.

The Employment numbers today were excellent and so the markets vacillated because good is bad in these markets as good may lead to the Fed tightening a bit-or so the thinking goes. Sometimes there is too much thinking.
*****

 

 

November 1, 2013

Model Portfolio Value As of 1 November 2013

$ 713,555


Comment on Model Portfolio activity

We realized nice trading profits in Expedia and Verizon during the week. We also added to Sony when it dropped 15% on negative earnings news, and added IBM in larger accounts when it dropped 10%. We expect a pullback in November and then a rally into year end.
*****

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



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309 W Johnson Street Apt 544, Madison, Wi 53703 312-925-5248
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