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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 (POT), McAfee (MFE) and 3Par (PAR).

    This morning I added some Fifth Street Finance Corp (FSC), and maintained my short position in Salesforce.com (CRM). Finally, I have been adding to my Frontier Communications (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 (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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