 | ||
 |
||
 |
||
 |
||
 |
||
 |
||
 |
||
 |
||
 |
 |
Bud's Poem Page Sunni/Shiite/Iraq/Iran Katie's Coast2Coast Blog Katie's West Coast Blog |
October 31, 2014
Comment on Model Portfolio activity What correction? The markets ended the month on the upside on News that Japan is going to begin buying bonds ala the U.S. Fed and also is going to move $400 billion into world stock markets. During the week we traded Verizon for a dividend better profit and added to Juniper, Huntington Bank and KB Homes. All is grand in the land. If
the Republicans win the Senate the ensuing rally should mark a short term top.
By the by, what happened to Ebola, and Russia, and
the European doldrums? Talk about ADHD, these markets and the big
boys and girls have it in spades.
October 24, 2014
Comment on Model Portfolio activity The correction seems to have satisfied itself as a quick 10% down move. Unfortunately the out of favor stocks we favor are not participating in the rebound yet. During the week we took a large loss in Cree- it hurt. But we have had a few good trades this year to offset that loss. We added to Sprint, Alcoa and Old Second Bank. We also repurchased Verizon and more AT&T and sold Chico’s and Coach for wash trades. We bought Urban last week and earlier this week when it dropped 20% but when Abercrombie dropped $2 on Friday on an analyst cut we bought more shares and sold Urban for a wash. We would rather have a larger position in ANF priced at half of sales. We have made good money trading Abercrombie this year and we’re just early on this last trade. We
bought an equal amount of GM warrants with the Urban money. GM remains in the
doghouse but we consider it real value.
October 17, 2014
Comment on Model Portfolio activity This week the market completed a 10% correction on Wednesday when the DJIA drop 400 points before rallying a bit into the close. Then on Thursday morning a 206 point drop and then subsequent rally successfully tested that correction. Ebola, ISIL. European recession, Greek bonds crashing, and other nefarious events were all the news and all the rage as the high frequency volatility had their best week in months... on Friday stocks rallied as the realization that - Ebola may not kill everyone in Texas, the hope that Europe governments would spend some money, - the bombing in Syria was showing some success and the big boys and girls deciding to go long or at least cover their shorts - led to a 1% rebound. Stocks are still not out of the woods and another test would be positive but for the moment the tsunami tower has been arrested. During rent week we sold Chico’s and Deere at losses to redirect that and additional money to more Whole Foods, Huntington Bancshares, GM common and warrants, Ascena, AT&T and Coach plus the repurchase of Verizon and the addition of Urban Outfitters (down 15% on Friday), and Hecla mining as a silver speculation. We still have a bunch of cash ready to deploy if the 10% correction turns into a 20% wipeout. The
economy is fine, employments numbers are super, company health is very good and
the correction we expected and the market needs are occurring. Not to worry.
It’s all about the journey.
October 10, 2014
Comment on Model Portfolio activity Three weeks ago all was wonderful and all news was positive. Currently all news is negative and stocks are overpriced. And so it goes with the markets. Volatility has increased and bearish bets are being placed. We have been awaiting a correction for it seems like forever. But now that it seems to have arrived we don’t like seeing account values decrease any more than the next person. Happily we have large cash reserves which we have been slowly putting to work and at that same time we have pruned holdings to take advantage of perceived better options. During the week we sold Post for a too large loss and placed the funds in GM common stock. We also sold Alcoa flat and added to our GM warrant position as well as adding shares of J.C. Penney that dropped on reports of flat September sales. Those actions were switching from less aggressive to more aggressive position.
We are not surprised by the sudden change of sentiment-
that’s how corrections correct.
October 3, 2014
Comment on Model Portfolio activity During the week we traded DreamWorks for a nice profit when merger rumors surfaced and then sort of faded. We repurchased Abercrombie which we have had good luck trading this year. Cree dropped 20 % on a disappointing forecast and we added to shares. We also repurchased Sprint and bought a few more General Motors B warrants in accounts.
Doubt is creeping into the marketplace and even with an
excellent Employment report on Friday the markets see more inclined to weakness
than strength. That is healthy given the run higher over the last 15 months and
we are hoping for but not predicting more weakness so we can continue to add
issues to accounts.
FAIR USE NOTICE This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. For Information on RBC LLC SIPC and Excess SIPC protection http://www.rbcadvisorservices.com/partner/testimonials/cid-161786.html. For those clients of LY& Co and other interested persons the Quarterly Report on the routing of customer orders under SEC Rule11Ac1-6.
All SEC Rule11Ac1-6 Quarterly reports up to March 2, 2012 may be found by visiting
the diclosures at LY& Co Clearing Broker Mesirow Financial
at: http://www.tta.thomson.com/reports/1-6/msro/.
Annual offer to present clients of Lemley Yarling Management Co. Under Rule 204-3 of the SEC Advisors Act, we are pleased to offer to send to you our updated Form ADV, Part II for your perusal. If any present client would like a copy, please don't hesitate to write, e-mail, or call us. A list of all recommendations made by Lemley Yarling Management Co. for the preceding one-year period is available upon request. |
| 309 W Johnson Street Apt 544 Madison, WI 53703 312-925-5248 | ||
| | ||
|