11 months ago
Tuesday, December 9, 2008
Investing Pittsburgh: Yesterday
The chart above is of USX (X) and Alcoa (AA) compared to the Dow Jones Industrial Average for yesterday. Yesterday is not the kind of day that happens often. However, when you make smart investing moves you occasionally get rewarded with a huge day. Yesterday, on the wings of Alcoa's 17.55% jump and US Steel's 24.44% jump the Portfolio was up close to 6.56%
(that figure counts the cash position. The invested positions were up 17.64%). Yesterday is largely thanks to rumors of Obama's infrastructure plan that would help Alcoa and US Steel and an upgrade in Goldman Sach's advice on USX. I can't claim to have predicted the US Steel upgrade, but I did enjoy it. I did say to look out for the boost in infrastructure spending to effect both stocks. Even more help would come from a finalized auto bailout.
Investing Pittsburgh is a regular part of this blog. It details the ins and outs of a mock portfolio of Pittsburgh Stocks invested and managed by me. For a list of all of the previous "Investing Pittsburgh" posts, click here.