Again the web portfolio goes hand in hand with the XJO (Aussie 200 index) and finished almost unchanged. The index finished the week just 7 points higher than the week before. Looking at the portfolio we were up by .01%. The big winners for the week were all the mining stocks with the retailers being on the other end and finishing the week lower.
Looking ahead to next week I still have CWN, TOL and WOR fulfilling all the buy criteria according to the HSC. I also have AMP (AMP Ltd), MAP (MAP Group) and SUN (Suncorp Metway) joining the list of buys. Still no stocks that are giving me a new sell signal, although OST (OneSteel) is moving very close to my sell stop and I will be monitoring the stock very closely next week.
I had an interesting conversation with a colleague of mine last week. He gave me a list of 12 stock symbols, that he sees as an opportunity, and asked me about my opinion of them. Most of the symbols were from the Australian Stock Exchange but a few were from the New York Stock Exchange. I looked at them applying the HSC rules and none of the stocks that he mentioned were anywhere near of setting a buy signal (according to the rules that I follow).
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Just as you think you have it all figured out, the market proves that anything is possible. I am referring to last week’s post, where I mentioned the bearish bar and expected the market to continue to fall. Well the XJO had a good week and equalled the high of the week before finishing the week stronger compared to the previous close. I still think we will see another decline as part of the final decline of the 19 week cycle. Time will tell.
In line with the XJO, the blog portfolio posted another strong week with the profit of our open positions up to 4.86%. There were no further additions to the portfolio because we have reached our maximum number of 20 positions in the portfolio. For the week ahead I have identified several buys. All of them have been buys in the last couple of weeks. They are CWN, ERA, LEI, TOL, WAN, WOR and WPL. Read more…
Apologies for missing last week’s update, I decided to spent some quality time with family on our holidays after we came back from my first skiing experience in Chile. We had great weather and best of all fantastic snow. I’ll definitely be back for more in years to come. Well as I skied downhill the markets went downhill as well. At least that was what I heard when I turned on the news. I expected the portfolio to be in negative territory again and was surprised to still see it clinging to a 1 percent gain.
There was quite a bit of activity while I was offline with TLS (Telstra Corporation) triggering the stop and three more additions to the portfolio. Telstra actually plunged to a new all time low at 2.82. OST (OneSteel) was a buy two weeks ago and last week we have added PPT (Perpetual Limited) and CWN (Crown Limited).
The transactions in detail:
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