I am going to lay out what we did this week in the market as a recap of the week. I am going to do a better job from here on out of telling you how we are doing as a whole because on a day-to-day basis it can get somewhat overwhelming. Hope you enjoy the recap of stocks and positions we held/are holding. Overall, for the week, we had 6 winners and only 2 losers. Tomorrow, I will post for you some tables showing you historical growth of how we are doing on my virtual portfolio.
1. Shanda Entertainment Interactive (SNDA) – It was not a big winner for the week, but we started out on Monday with a slight gain on our short sale of SNDA. I recommended a short sale on the stock after it jumped over 6% in pre-market trading on an upgrade that I did not think gave it the sort of value we were expecting. We entered the stock (reported via the Oxen Report Entry/Exit Alert) at 49.75. By the end of the day, the stock did not make much movement to the downside on a big rally day, but we were able to still come out of it with 0.25% gain on the day, covering at 49.62.
2. Pepsi Bottling Group (PBG) – We started PBG as a short sale on Tuesday, with a recommendation coming on the heels of earnings that were not extremely great on a technically overvalued stock. The stock, however, had really flat movement on Tuesday, so we decided to hold it over the one day. Our entry on Tuesday was at 37.35, which was adjusted from the original post in my Oxen Report Morning Levels Alert due to the stock moving down a lot more than I had expected. Since the stock was so flat, we readjusted our expectations for just a 1% gain, which we hit on Thursday at 36.98. We had to extend this one a bit longer, but we were able to make money.
3. Family Dollar Stores Inc. (FDO) – On Friday, Oct. 2, I had four picks that went out, and one was a longer trade that would extend from that date into this past week. The trade was on Family Dollar Stores, who reported earnings on Wednesday. I was very confident in the earnings, and the company’s ability to rally behind the earnings. We got in on Friday via a late…