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John Cofran
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John Cofran is a professional investor and money manager with 20+ years experience, and over $15,000,000 in assets under management. He is a former CPA applicant with degrees in Finance, Accounting and Economics from Boston College. In addition to building several highly successful private... More
  • Monday Portfolio Recap 0 comments
    Aug 23, 2010 4:29 PM | about stocks: POT, MFE, PAR, FSC, CRM, FTR, EXC, HCN, PBI
    Moderate strength this morning gave way to a late day sell-off, pushing the Dow down 39 points. The S&P 500 was off 0.4% and the Nasdaq fell by more than 0.9%. The market continues to trade erratically, on light volume. Market direction is particularly sensitive to news flow, and is not gaining strength on recent deal news from  Potash (NYSE:POT), McAfee (MFE) and 3Par (NYSE:PAR).

    This morning I added some Fifth Street Finance Corp (NASDAQ:FSC), and maintained my short position in Salesforce.com (NYSE:CRM). Finally, I have been adding to my Frontier Communications (NASDAQ:FTR) position ahead of it's ex-dividend date.

    Overall Sentiment:  Cautious
    Portfolio Yield: 7.29%
    Projection: S&P 500 sell-off to 1,044 followed by rally to 1,280

    My largest positions at days end are:
    1. Cash - 12%
    2. Exelon Corp (EXC) - 7%
    3. Health Care REIT (HCN) - 7%
    4. Pitney Bowes (NYSE:PBI)- 5%


    Disclosure: Long: FSC, FTR, EXC, HCN, PBI; Short: CRM
    Stocks: POT, MFE, PAR, FSC, CRM, FTR, EXC, HCN, PBI
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