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Performance - Week Ending 07/02/2015

|Includes: FSTR, FWRD, GFF, GT, HFC, KSU, Lawson Products, Inc. (LAWS), LAYN, MATX, MCD, NCR, NTR

The Wax Ink Portfolio was up 4.9% for the week.

By comparison, the Dow was down 1.2%, the Nasdaq was down 1.4%, the S&P 500 was down 1.2%, the Russell 2000 was down 2.5%, and the Volatility Index, commonly known as the VIX, was up 19.8%.

Year to date, the Wax Ink portfolio is up 4.5%, the Dow is down 0.5%, the Nasdaq is up 5.8%, the S&P 500 is up 0.9%, the Russell 2000 is up 3.6%, and the VIX is higher by 22.4%.

The portfolio breakdown is roughly 55% cash, 45% equities, and 0% bonds. The total number of shares held decreased by 2000 this week with the sale of ArcBest Corporation.

Weekly Winners
This week's portfolio winners were oil refiner HollyFrontier Corporation (NYSE: HFC), up 7%, and agricultural chemicals company Agrium, Inc. (NYSE: AGU), up 2%.

Weekly Losers
This week's portfolio losers were offshore engineering and construction company McDermott International (NYSE: MCD), down 5%, tire and rubber king The Goodyear Tire and Rubber Company (NYSE: GT), down 4%, and infrastructure supplier LB Foster Company, (NASDAQ: FSTR), down 4%.

Portfolio Duds
The portfolio's worst performing stocks remain building materials company Griffon Corporation (NYSE: GFF), down 10% (down 1% for the week) since being added to the portfolio, and municipal construction company Layne Christensen (NASDAQ: LAYN), down 46% (down 1%for the week) since being added to the portfolio.

Notice
I am currently considering closing my position in infrastructure company The LB Foster Company.

Worksheets
Archived worksheets may be downloaded by going to the Worksheets page at the site and selecting an industry which will move you to all of the worksheets I have updated for the selected industry.

Worksheets updated last week may be downloaded by clicking on the links (company name) below.

Lawson Products, Inc. (NASDAQ: LAWS) - FYE 12/2014

Forward Air Corporation (NASDAQ: FWRD) - FYE 12/2014

Matson, Inc. (NASDAQ: MATX) - FYE 12/2014

Kansas City Southern (NYSE: KSU) - FYE 12/2014

NCR Corporation (NYSE: NCR) - FYE 12/2014

Please note that worksheets are updated basis the most current SEC 10-K ANNUAL filing.

Reasonable Value Estimates
Reasonable value estimates are initial valuations which Accredited Investors, after completing their own due diligence, can either increase or decrease in accordance with their individual risk tolerance and investing philosophy.

Reasonable value estimates were established or revised this week for Lawson Products at $12-$16, Forward Air Corporation at $46-$52, Matson at $32-$39, Kansas City Southern at $56-$61, and NCR Corporation at $20-$26.

Have a great week.

Wax

Wax Ink is a baseline equity research company not licensed or registered with any government agency
Copyright © 2015 Wax Ink

Disclosure: I am/we are long HFC,AGU,MCD,GT,FSTR,GFF,LAYN.