Sunday, January 4, 2009

Investing Pittsburgh: Week in Review (Double Wide) 12/22 - 1/2

I have combined the week of Christmas and week of New Years for review. Partly because I didn't have any time last weekend, partly because there have only been 7.5 trading days and partly because these are low volume days that are VERY difficult to read. If you had a strategy you liked that didn't fair well the last two weeks, don't despair they were weird weeks.

Since we didn't make any sales or acquisitions, let's see how the ride we were along for went. Looking at the numbers, here are my observations:
  • My critics will be quick to point out that Alcoa is over 12 and up about 25% in the last two weeks. I will remind them that we sold at 10.7 (far above where Alcoa started its recent run). I will also say, that I've shorted Alcoa at its present price in my personal account, the business is just bound to struggle for a little while and I'm still afraid they'll soon announce they are cutting the dividend.
  • PNC is up almost 10%, I still think its a bargain. I'm looking to expand our position, but I think it will drop off a bit in the short term and give us a chance to get a bargain.
  • We were behind the market overall (DJI was up 5.31%, we were up 3.35%), however the stocks we owned outperformed the market (money invested was up 6.17%). We only trailed the market because of our large cash position, which I still contend you'll thank me for later this month.
That, friends, is your weekly wrap-up. I'm looking for a rocky week this week, so hold on to your seats.

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