My top 10-ish positions in no particular order: GPOR, COPJF, FR-J, IGK/ISF/IND, NRF-B.
New positions: MUR, AMPH
Positions increased: RIG, GTE, CSGH, COPJF, GILD, RINO, NRF-B, CF, NEWN, SPU, GRVY, MAIL, TXIC, LTUS, CLLZF, IGK/ISF, UEPS
Positions reduced: OXY
Positions eliminated: SPPRO
I am still cash over-weighted due to account liquidation and transfer. It is even more exciting that the institution - which will remain nameless - screwed up the transfer, so I got the money a week late, but just in time for the market drop. So far even with liquidation costs, I probably saved 3-5% on the price drop. Like wise men say, it's better to be lucky than smart. :)
With this in mind, I have been buying a lot, but still have cash left. New positions are in MUR - nice oil company with stock held back by refineries and Malaysian/Brunei contract issues. Not great Q1 results. AMPH - discussed on Dale's thread, just a toe dip, I did not like their latest results.
In terms of additions, most are familiar names, most may still be cheaper in coming weeks.
Oil: RIG - probably not the best choice in deepwater drilling due to headline risk, eyeing NE for additions. GTE - let's see their Q1 report in couple days. COPJF - cheap Australian oil play from Dale. CLLZF - oil sands minor which seems to have got their act together.
CSGH, NEWN, SPU, TXIC, LTUS - are cheap Chinese names. RINO is a rather recent addition, a momentum darling abandoned by momentum chasers.
GILD - another high-flyer darling dropped on so so guidance. CF - fertilizer co going through acquisition integration pain. UEPS - SA payment processor trying to extend contract with government. GRVY - Korean game developer with not much recent success. MAIL - Israeli software company making money from Google's generosity.
Income part is replenished by NRF-B and IGK/ISF.
On the sale side, OXY has become rather expensive. SPPRO also reached par and is completely an income security now. I did not like to keep it with no cap gain upside. |
