Entering text into the input field will update the search result below

August Portfolio Recap

Sep. 07, 2010 8:08 AM ETPBI, PFF, JNK, JNJ2 Comments
John Cofran profile picture
John Cofran's Blog
116 Followers
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

August (August 2 - September 3) produced seesaw action, with a late month rally closing the S&P essentially flat at 1,104. During the month the S&P tested, and held, the 1,040 level we have been discussing as key support.

Here at Cofran Capital, we had a solid month, producing gains of 2.8%. Our defensive portfolio stance, coupled with significant dividend income, allowed us to book consistent profits with limited volatility. As we enter the de facto first trading day of September, our 21% cash pile will provide opportunities to make quick gains during a traditionally volatile September month. We will use new capital and dividend income to move closer to a fully invested position on any weakness in late September and mid October.

Overall Sentiment: Cautious to Neutral
Portfolio Yield: 7.62%
Projection: Range-bound. Support near 1,060; Resistance near 1,130. Break-out to 1,280 this winter.

Top 5 Positions:

  1. Cash - 21%
  2. Pitney Bowes (PBI)- 6%
  3. iShares S&P U.S. Preferred Stock Index (PFF)- 4%
  4. SPDR Barclays Capital High Yield Bond (JNK)- 4%
  5. Johnson & Johnson (JNJ)- 4%


Disclosure: Long: PBI, PFF, JNK & JNJ

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.