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Lemley Yarling Management Co
15624 Lemley Drive
Soldiers Grove, Wi 54655
Bud: 312-925-5248       Kathy: 630-323-8422

September 28, 2012

Model Portfolio Value As of 28 September 2012

$ 636,454


Comment on Model Portfolio activity

We sold our remaining holdings this week. The Model Portfolio is up 20% for the year at an all-time high and most large accounts are up 10% to 15%. We want to see how the next month goes before recommitting.  The economy is slowly recovering and the markets near all-time highs are anticipating good news 6 months from now but European austerity may place a crimp in further market advances over the near term.

Katie (our better half- not Kathy our wonderful business partner) is riding down the west coast from Canada to Mexico and if you would like to follow her progress her blog site is:

http://katiebikingborder2border.blogspot.com/. The site is also at the top of this page highlighted in red.
*****

 

September 21, 2012

Model Portfolio Value As of 20 September 2012

$ 639,429


Comment on Model Portfolio activity

Happy Fall.

During the week we sold Yahoo, Sony, Ford, Alcoa, and reduced our position in Aéropostale.

Thoughts from an old market pro:

Everyone kept saying, "A top is not in place yet." They persistently pointed to the "normally reached" levels of this or that statistic that were not yet there to reinforce their desire to remain bullish.... Apart from statistical measures of increasing blindness, this unwillingness to acknowledge what they themselves were already feeling revealed a comfortableness, a confidence, a conviction that whatever was happening – short-term survivable dips – would continue.... until "the top," like a strip tease artiste of our youth would with decorum appear on stage, bow, and then, accompanied by applause from all the bulls eager to cash in on their excitement, would begin to twirl its statistical tassels in front of everyone.

I’ve gotten so old I can’t remember the names of those ladies at the Old Howard, but I can remember that all you got was a flash of this or that, before they waltzed off. Stock market tops are like that. You know it’s there somewhere if you squint hard enough, but you never quite see it, so you keep waiting for more. And then, in the end, as the curtain comes down on the bull market you realize that the one rule about tops is not that they provide this or that signal, but that they come before anyone is ready.

Justin Mamis

Read more: http://www.minyanville.com/business-news/markets/articles/spx-dollar-us-dollar-index-255EGSPC/9/17/2012/id/44052#ixzz26jyzT3lN
*****

 

September 14, 2012

Model Portfolio Value As of 14 September 2012

$ 643,878


Comment on Model Portfolio activity

Early in the week we repurchased BankAmerica, Facebook, and Cisco and added shares of Aéropostale, Dell and Intel to accounts. The markets were strong all week on news that the ECB will be able to purchase sovereign bonds and that the Bernanke Fed will extend its Liquidity Program indefinitely. On Friday we took profits in Facebook, Abercrombie GM A Warrants, Juniper, and Netflix.

A correction is in the cards but we will enjoy the up move while it lasts.
*****

 

September 7, 2012

Model Portfolio Value As of 7 September 2012

$ 627,533


Comment on Model Portfolio activity

We added Nvdia and Intel this week. Major market measures are at 4 year highs and it is September so a pullback in not out of the question. We continue to maintain a large cash position in accounts.
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15624 Lemley Drive, Soldiers Grove, Wi 54655 312-925-5248
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