[caption id="attachment_375" align="aligncenter" width="500"
caption="CAF, DELL, ESLR, SLW"][/caption]
It's time to review my positions as promised last week. After the
record up day on Monday and then the lackluster follow-through Tuesday,
today is probably going to be a down day in the markets. Given my
intermediate term outlook, I am inclined to hold my positions.
However, I need to unload my weakest link to reduce my risk.
Above is a quick snapshot of my current holdings.
Notice that DELL and ESLR are holding on nicely on this down (DJX
-3.18%, SPX -3.57% as of this writing) day after the previous spike.
This is a very good sign indeed as it shows they're likly to hold on to
the previous \~20% gain, at least for now.
Actually, the price action of ESLR seem very healthy in particular.
There's been a couple of big volume spikes in late day trading. Although
it does seem to be in a constant downtrend, as you can see from its
As for CAF and SLW they are both below support at the moment. CAF has
broken its \$25 support last Friday and is trading below it at the
moment. SLW is definitely the weakest at the moment. If it isn't such a
cash cow, I would probably be selling it in yesterday's rally.
Furthermore, it still seems to be holding on to its decending support
line on the daily chart today.
[caption id="attachment_377" align="aligncenter" width="500"
At this point, the question I ask myself is, if I'm in all cash now,
would I be buying these companies at this point? CAF - yes, DELL - yes,
ESLR - yes, SLW - yes. Is this the bottom? I don't know. I'll just have
to wait and see. However, I will watch the day-to-day action of my
holdings carefully and unload one of two of them to reduce my risk.