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Monday Portfolio Recap

|Includes:CRM, EXC, FSC, FTR, HCN, MFE, PAR, PBI, Potash Corporation of Saskatchewan Inc. (POT)

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 (NYSE:FSC), and maintained my short position in Salesforce.com (NYSE:CRM). Finally, I have been adding to my Frontier Communications (NYSE: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 (NYSE:EXC) - 7%
  3. Health Care REIT (NYSE: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