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Performance - Week Ending 05/03/2013

|Includes: ARCB, CLF, DCO, DORM, FSTR, GFF, International Rectifier Corporation (IRF), KAMN, NTR, TLAB

It's Texas. It's May. It's 45 degrees. THAT is not supposed to happen in South Texas in May. It just isn't. Yet, here we are.

The other thing that isn't supposed to happen is that the markets are not supposed to rally when government monetary policy is propping them up.

Yes I know, it was the jobs report that spurred the markets into action.

Bullshit.

Speaking of bulls. I am very happy that the bull got a big ol' hard on yesterday and decided it was time to party, as I had a very good day.

But while it helps of course, one day does not a portfolio make. And as such I keep wondering; what happens once the bull gets his nut?

That's what investors need to be considering. Sure it was a great one day stand. But what happens next week, next month, next year?

Real wealth (defined as having a nice retirement nest egg) isn't built in a day. It's built over a lifetime of investing in well considered companies, bought when they were on sale.

Just think about the kid on the play ground that nobody would play basketball with and how now, now that he is an NBA star, everyone wants his autograph.

That kid didn't get to the NBA because they had one great high school and one great college game! They got there because they worked their butts off and stopped paying attention to the crowd.

Wealth building requires the same discipline.

Hi. My name is Wax, and I am an individual investor, a working class investor, just trying to do the best I can in a world that was never intended for investors like me.

Throughout the course of the week, I post a new Daily Alert which may be of some value to you as you perform your own equity research.

The other thing I do, is let the world watch as I manage the The Wax Ink Portfolio.

And I do these things for two reasons.

The first reason is because I hope you will donate a few bux and encourage your friends to do the same. Hopefully with your assistance I can stop the monthly cash flow drain required to pay the costs of a "free" website.

The second reason is because I hope to help other working class investors avoid the investing pitfalls that found me when I was starting on my investing journey.

Markets
The Wax Ink Portfolio closed up 3.2% for the week. By comparison the Dow was up 1.8%, the Nasdaq was up 3.0%, the S&P 500 was up 2.0%, and the Russell 2000 was up 2.0%.

The Volatility Index, commonly known as the VIX, was again the big loser for the week, closing at 12.85, down 5.6%. The VIX is now down 15.7% for the year.

Year to date, the Wax Ink portfolio is up 5.6% while the Dow is up 14.3%, the Nasdaq is up 11.9%, the S&P 500 is up 13.2% and the Russell 2000 is up 12.4%.

Breakdown
The portfolio breakdown remains the same, with 70% of the portfolio in equities, 30% of the portfolio in cash, and 0% of the portfolio in bonds.

Research
I paid little attention to the research list last week, there just wasn't any time to devote to it.

Holdings
This week's moving on up stocks were semi-conductor maker International Rectifier Corporation (NYSE: IRF), up 13%, after-market auto parts maker Dorman Products, Inc. (Nasdaq: DORM), up 12%, industrial products maker L.B. Foster Company, (Nasdaq: FSTR), up 11%, and aerospace engineering and manufacturing company Ducommun, Inc. (NYSE: DCO), up 9%.

This week's turd in the bunch bowl stocks were trucking company Arkansas Best Corporation (Nasdaq: ABFS), down 9%, military/industrial aerospace parts maker Kaman Corporation (Nasdaq: KAMN), down 2%, and agricultural chemicals company Agrium, Inc. (NYSE: AGU), down 1%.

Not Performing
The top non-performers remain communications equipment company Tellabs, Inc. (Nasdaq: TLAB), down 61% since being added, garage door/telephone headset maker Griffon Corporation (NYSE: GFF), down 42% since being added, and Cliffs Natural Resources, Inc. (NYSE: CLF), down 40% since being added.

Wax

Wax Ink is a baseline equity research company comprised of individual investors NOT licensed or registered with ANY government agency. Always obtain the advice of a registered investment professional BEFORE believing any information contained herein.

Disclosure: I am long IRF, FSTR, DORM, DCO, ABFS, KAMN, AGU, TLAB, GFF, CLF.