SPY made a new closing high for the year at last Thursday's close
The chart on the left shows SPY with price bars painted pink for bars that made a new 52-week-closing high.
The lower portion of the chart shows a count of SP-500 stocks making 52-week closing highs on that date.
Last Thursday was the 3rd highest day on the chart with 114 stocks in the SP-500 making new 52-week closing highs. This close forms the 3rd lower high in a wedge formation and shows the power of last Thursday's action - even though volume was on the light side.
StockFinder is an amazing tool and this is just a small example of what you can find out with a bit of work and imagination.
Back to positions review....
AAPL had a great week, will cover that stock in a separate post.
AUY - Yamana Gold is weakening a bit. I'm starting to think AUY is a poor proxy for the price of gold and I should just buy GLD instead. The only plus is that AUY has a dividend and GLD does not.
C - Not much going on with Citi. I'm in the hole about 1/2 point with my cost at about 3.80.
CML - Compellent closed at a new 52-week high on Friday. IBD ran a piece in the 'Stocks on the News' column with a headline "Compellent Clears base in Light Trade". Analysts are expecting a 50% earnings growth when they report on Feb 10th. IBD also points out that volume has dried up since its breakout day on 2x normal volume back on Dec 18th. I'm up about $1.50 per share with my average entry at 22.25.
DIA - SPY made a new yearly closing high on Friday, but SPY did not follow suit. I'm sticking with it and considering it part of my broad market exposure.
EEM - Emerging Market's ETF fund. Chart has been withering lately and not keeping pace with SPY.
EFA - This position was added this week in both accounts as part of myself working toward a target allocation which i'll cover in a later post, probably in the coming week.
HMSY make a new all-time closing high on Friday. No news this week, earnings are not due until Feb 18th. Company will present at the JP Morgan Healthcare conference on January 11th at 5PM EST.
KO - Coke is basing nicely here and proabably in a good add-to position. After making a 52-week high back on 12/11/2009, the chart has found some support and is basing. With a 2.8% dividend yield, and a PE of 21, this stock is looking good.
MYRX - A New York law firm is investigating possible breach of fiduciary duty by the board of Javelin Pharmaceuticals by selling out to Myraid Pharama at the equivalent of $1.50 per share. Clearly some sabre-rattling going on here with Javelin stock at $1.27 per share. In the press release, they mention the stock "recently" traded at $2.00 per share (back in September), but since traded as low as just over $1.00 per share. Trying to goose management into getting a better offer no doubt.
NEOG - Stock is coming up againsts the recent all-time high at 24.34 and the shares are stalling just short of the all-time high. Going over recent share sales, a bunch of executives sold shares in the fall of 2009, but the shares are up about 12% on average since they sold. These sales look more like protecting profits than reflecting any underlying weakless in the business.
SPY - Hit a new year-to-date high last Friday. My target assett allocation indicates 28% SP-500 (SPY) so i'm going to add-to on weakness.
SXCI - Stock make a new all-time high on Friday closing at 55.35. The health-care stocks have blown above multi-month resistance that has been caused by uncertainty caused by health-care reform now in debate in the US-Congress.
USO - I've been laboring under this position for almost a year now. I'm tired of paying money to the exchanges to keep rolling these contracts over and paying no dividends. A much better choice would be sticking with OIH - Oil Services Holders. But there is a downside. If the equity market collapses, OIH will implode while USO will hold up. Conclusion: pick a portion of my account that should be invested in energy invest 25% in USO and 75% in OIH.
XLB - Select sector materials - closed just short of a new all-time high. The sell-off in gold and materials have kept this EFT from falling through the floor. Need a pure-play on the anti-inflation-anti-fiat-currency-camp and haven't found it yet. Real Estate perhaps?
YUM - Great article in WSJ.com that I re-tweeted about how YUM is trying to cater to the 18-25 age crowd in with Taco Bell in India. Need to get polished up on my Twitter-tools.
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