A nasty correction hit small caps hard this week, the first week of January.
New development: I dumped PARS on Jan 4. This stock is maybe the least desirable of my positions on a fundamental basis. It's a small pharmaceutical that bombed out in December with bad results for the Phase III clinical tests for its one and only drug. Under those circumstances, if it doesn't show a bounce following the end of tax-loss selling then there's no hope for it. There's nothing attractive about it fundamentally, so if it fails technically I've got to dump it. And that's what happened.
I'll continue to track all the stocks, including PARS, to see what happens.
So far, results are:
original portfolio: down 7.65%
actual portfolio*: down 6.75%
Russell 2000: down 4.87%
* actual portfolio: PARS sold @ 1.25 Jan 4.
Breaking down my individual picks:
PARS down 16% is the worst.
LIPD and MTMD, my other drug stock and my medical device maker, were the most stable, down 3% and down 4%, respectively.
SGU, the heating-oil company, is down 5.6%; it is negatively correlated with crude oil, which went up $3 a barrel so far this week.
CAMD, my semiconductor, is down 9.7%; semiconductor stocks have taken a big beating, with the SOXX down about 7% so far this week. |
