PORTFOLIO UPDATE SEPTEMBER 18:
For new lurkers, I update my portfolio from time to time so you can see how I have distributed my holdings among sectors, and track the winners and losers. This is a real portfolio – no smoke, mirrors, newsletters or other hype jobs. All of my position trades are recorded for the thread (daytrading is not included – follow the thread for those).
In dollar terms, the portfolio is now 8% below its high for 1999 reached July 17.
New additions (since 9/11): Long – TRIH, PPRO, QQQ Oct 118 puts. Added more FRNT long.
Out (since 9/11): ANLT, PCES long, reduced AIRO and DIGL holdings, out of HCR short.
Now holding 61% non-techs and 52% tech stocks (with 13% cash margin).
Portfolio currently ahead +52% YTD, down from +55% on August 7. Dow is up 18%, NASDAQ 30% and S&P about 9%. The Internet Index is now up 53% YTD.
According to the Bloomberg Mutual Fund Center, the 50% Gains portfolio now ranks 20th in the top 25 US Technology mutual funds for YTD performance (I shifted from the Overall list to the Technology list because too many Asia or Russia-based funds were skewing the results). It takes +48% YTD to make the cut right now. The one-year performance (100%) doesn't make the top 25 Technology funds where the minimum is +111%. bloomberg.com (select Technology Funds)
Core holdings: AREM, AOL, CMGI, EGRP, FNDT, FRNT, IMCL, ISWCX, LPAC, MSFT, MSGI, RNWK, SILK, URBN, VRIO: 53%.
50% Gains Candidates: AIRO, AREM, BINC, BTGC (again), CYPLF, DBRSY, DCLK, DIGL, DSS, FFTI, HPK, HSAC, MTA, PETM, PPRO SBTV, SONE, STJ, TRIH, TRVL, TSBK, UFAB: 53.3%.
Tradin' Trash: FPAFF, WEIR, EWEB: 4%.
Options: QQQ October 118 puts, CUST November 17.5 puts, GIC December 45 calls, WMB January 2001 40 LEAP calls, T January 2001 56.6 LEAP calls: 2.7%.
Cash: -13% (margin).
Current shorts: EWM and REFR. Equals 12% of portfolio value long, down from 18% on September 11. But if the QQQ October puts were a straight short instead, the total short position would be 41%.
SECTORS: The portfolio remains diversified as a defensive measure. Options holdings are included.
Broadcasting/Communications: ISWCX, LPAC, T LEAP calls, SBTV, HSAC, GIC December calls, MTA (21.4%)
Internet Services: AOL, CMGI, RNWK, VRIO, MSGI, DCLK, EWEB, PPRO (19%)
Biotech: BINC, IMCL, TRIH, STJ, BTGC (14.1%)
Software: FNDTF, SILK, MSFT, AREM (11.2%)
Travel: FRNT, TRVL (10%)
Hardware: DIGL, DSS, AIRO (8%)
Gaming: CYPLF, HPK (7.4%)
Retailers: URBN, WEIR, DBRSY, PETM (6.8%)
Financial: EGRP, SONE, TSBK (6%)
Business Services: FFTI (3.8%)
Energy: WMB LEAP calls, UFAB (3.6%)
Asia: FPAFF (1.1 %)
Currently 23 winners and 16 losers, or 23 and 18 if you count shorts (options are too volatile to include week to week). Eleven of the losers are less than 10% behind.
So far this year my winning trades outnumber losers 2 to 1. In cash terms, profits exceed losses by 2.5 to 1.
Comments, questions and suggestions more than welcome as always. |
