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Top Equity News’ goal is to provide investors with up to date news from around the world on stocks, options, forex, ETFs, and futures. In an ever changing global economy it is vital for all investors to have access to every available news source. In our Options Update articles, twice weekly we... More
  • TEN Exclusive: Portfolio Update – 9/1/10 0 comments
    Sep 2, 2010 11:33 AM | about stocks: QNST, TIBX

     Stocks jumped Wednesday after surprisingly strong growth in U.S. and Chinese manufacturing allayed some of the worries that had been building over the global economy in recent weeks.

    The Dow Jones industrial average jumped 255 points on the first day of September. With investors pouring into stocks, Treasury prices fell and interest rates rose.

    The new reports snapped a string of disappointing economic data that sent stocks slumping in August. The Standard & Poor’s 500 Index, the benchmark most widely used by professional investors, lost 4.7 percent in the month, its worst August performance since 2001.

    Well, we have been posturing the portfolio to the long side the last week or so and we started getting some profits locked in the last couple of sessions. We also expect our current stocks to get rolling and give us the ability to take more money off the table. It’s all about winning trades!

    We exited our position in QuinStreet Inc (QNST) today. This stock has had big moves both up and down and we’ve missed a couple of opportunities in the last week. We weren’t going to miss another one today. We were happy to take our 10% return.

    We entered one new stock, TIBCO Software Inc (TIBX). This stock looks to have broken out of some resistance and should push nicely higher over the next number of sessions. The fact that many of these companies in this sector are looking to be acquired won’t hurt us either.

    Isilon Systems Inc (ISNL) had a huge day, up over 6%. This stock has surged over 10% in the last two sessions. It now has blown through the $20 mark it should keep running. Very strong volume as well was good to see.

    Companhia de Saneamento Basico (SBS) had a nice move up today of 5%. We would have guessed we would have exited this stock sooner with profits, but it has been in a very tight range. Hopefully today will get it going.

    The rest of our stocks...

    To continue reading:

    Disclosure: No positions

    Stocks: QNST, TIBX
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