Kelly: Some Portfolio Changes

I made a number of trades Friday, so I’m gonna quickly go down the line and explain.

Sells

(POT) at $142.08. The sharp reversal in gold spurred me to take profits in a few inflation plays, and this was one of them. These names didn’t get hit as bad as the market, so they could still be volatile.

(MOS) at $91.58. Same reason as for Potash.

(SGR)–I sold half the position at $58.28. The stock is up 11 straight points. Just taking some profits.

CNEH.OB–Also up huge lately, taking some profits by selling about 30% of my position at $2.50.

Buys

(TKC)–I increased my position by 50% at $23.21. This is still a small position, but emerging markets are beginning to perk up, so I’m growing the size of the position.

(VGZ)–I doubled the position at $4.41. The gold trade was very weird today, but this thing corrected with it, so I’m buying the dip.

(HSII)–bought at $27.54. The staffing stocks should have gotten killed today on that employment report, and they actually rose. That is a tell in my opinion, and these stocks are all very cheap on a valuation basis.

(TBI)–bought at $14.66. This is also a staffing company (formerly Labor Ready), and responded pretty favorably to an earnings miss yesterday and the employment data today.

(BBSI)–I actually bought this one yesterday at the close at $17.91, but forgot to write it in. Another staffing company, and also very cheap.

(CHCG)–I increased the position by 30% at $3.05 today. Still way too cheap, and I’m going to buy it continuously down here.

Comments

[HarMegiddo:]

every1 seems to like turkcell anymore. im a vimpelcom fan myself :).
you might want to call vanguard and see if they can start a management staffing + outsourcing ETF. j/k
i enjoy reading your posts, thx.

2008 Feb 03 04:47 PM

[nwolfson:]

I would like to follow you for 3 months

2008 Feb 19 08:36 AM

[DaveinHacke...:]

Good call on HSII. Record profits last year (with 50% coming from overseas) and guidance for this year is positive as well.

2008 Feb 26 11:20 AM