Friday, September 24, 2010

RSY IX: Update, EVBN, GAIN, LLL

The chart below is closing prices on Friday, 9/24/2010. Clearly, Friday was a stellar day with over $500 in gains for the day, which raised our holdings to over $1900 in gains so far.
If you have been following our newsletter of "Sabrient Select Opportunity Portfolio" or even the blog category of Sector Detector, Scott Martindale has been noting that the SPY and markets in general look to be ripe for a "roll over" correction to the downside. The traditional charting patterns did not hold true and surprised to the upside on Friday. This could also easily reverse course and revert back to the mean. So normally I would consider this as an opportune time to "sew in some profits".

This week contains 3 ex-dividend dates, so we should wait for any moves there. GAIN is the one position that just went past the record date, but it is only slightly up and it is a smaller than normal position in the portfolio. I originally wanted to getting a larger share of this holding through dollar cost averaging.

Nothing has jumped out as a buy for our portfolio as of yet. Evans Bancorp, Inc. {EVBN, Financial: Regional Banks} was a prospect that looked good until looking at the forensic accounting reports and it was labeled as aggressive accounting and the rating was in a downward trend. L-3 Communications Holdings, Inc. {LLL, Capital Goods : Aerospace & Defense} continues to show up on MyStockFinder stock search as a good candidate but there appears to be no reason to rush in on this selection yet. The next ex-dividend date for L-3 should come around the middle of November.


The Capital Spectator: THE RISING INFLUENCE OF BETA

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