ABVT is the chart of the week. The stock made new all-time highs 4 out of 5 days in the past week. Friday was a particularly good day on excellent volume.
On the technical side, ABVT moved up to #25 on the IBD-100 this past week and IBD indicates "6% past 57.03 buy point on after pull back to 10-week average." On the fundamental side, IBD reminds us that this company has more than 2 million miles of Fiber Optic networks cable deployed.
Unfortunately, I took profits in ABVT at $53.30 and missed the last 7 points of the move so this is one that got away. I'm looking to re-enter on any type of pullback. The stock split 2-1 back in September and is up 50% since then. I expect it to run to 80 then split 2x1 again probably by end of Q2 2010.
Back to positions review.
AAPL - This stock is looking pretty sick and has had 2 crossovers of the daily range bands to the downside in the past few weeks. This week's rally failed right at the upper range bands so i'm probably going to take profits this coming week.
AUY - The rally in gold failed in spectacular fashion last Friday and i'm now in the hole slightly on this position.
C - Citi 's is paying off the TARP with a 20 billion dollar stock offering. That's good news of course, but further diluting current shareholders, but it had to be done.
CML - Stock is moving sideways, no recent news.
DIA - Up decently on this position but DIA seems to have found resistance right at the 105.0 level. Nothing new to report here, but most components are looking good. In fact, 25 of 30 components were above the daily range bands. The only Dow-30 components below the daily range bands are: DD, JPM, KFT, TRV and XOM.
This ETF is a strategy in itself - just buy DIA! These are all solid, well-managed companies many with multi-national business exposure. And with the dividend yield over 2.5% (according to Esignal), this ETF is a winner!
EEM - Emerging Markets ETF. This fund seems to follow the global equity markets and doesn't offer much in the way of diversification, but definitely needs to be part of every long-term portfolio. Need to work on the allocation.
HMSY - No news since last week, chart is marking time.
KO - This could have been chart of the week (yet again) and i'm up over 13% since my entry at 52 back on 9/14/2009. This is a DIA component and is a Warren Buffett favorite.
MYRX - No news this past week and chart is marking time.
NEOG - Neogen is due to report earnings this coming Friday. This is an animal feed and food safety play. Its total boring and I love it - up up 50% since my entry back in 2007.
SPY - Similar looking chart to DIA but not as strong. Clearly evidence that additional money going into this market is going to the blue chips (DIA) versus SPY.
USO - Once again i'm down on this position and i'm unhappy with my energy exposure here. The Fast Money guys on CNBC told me a long time ago that USO is a lousy energy play due to the ongoing cost of rolling over the futures contracts. They indicate that OIH (Energy Services Holdrs) is a much better play because it represents real companies in the energy space that have earnings and pay dividends. Looking to build a position in OIH going forward. What can I say - i'm slow to learn sometimes.
XLB - Select materials - metals took a hit recently, but this one is holding up.
YUM - Stock is marking time and I think is somewhat under apprecaiated at the present time.
CD Review
Taxable
LEHMAN BROS FSB WILMINGTON DEL C/D FDIC INS TO LIMITS 5.30% 05/17/2010
GMAC AUTOMOTIVE BK MIDVALE UTAH C/D FDIC INS TO LIMITS 5.40% 06/21/2010
FARMERS & MERCHANTS BK TOMAH WIS C/D FDIC INS TO LIMITS 5.25% 07/12/2010
GMAC AUTOMOTIVE BK MIDVALE UTAH C/D FDIC INS TO LIMITS 5.60% 07/21/2010
Retirement
GMAC AUTOMOTIVE BK MIDVALE UTAH C/D FDIC INS TO LIMITS 5.40% 06/21/2010
GMAC AUTOMOTIVE BK MIDVALE UTAH C/D FDIC INS TO LIMITS 5.60% 07/21/2010
RG PREMIER BK HATO REY C/D FDIC INS TO LIMITS 5.45% 07/30/2010
For now, plan your target asset allocation by sector and get ready to start building. Next year will be well under way before you know it!