Momentum Book Update

It’s been almost 7 weeks since I started the Surfview Capital Momentum strategy.  My cash position has been quite high throughout, ranging between 20 and 25 percent, but despite the high cash position, I’ve still gained over 320 basis points of alpha.  I feel better entries await for some of the high flying stocks I have my eye on, especially of the foreign nature.  My tech exposure has been quite high and fortunate, names like $GOOG, $PCLN, $CTRP and $RAX have been big winners.  The best performer in the portfolio though has been Trina Solar $TSL, rocketing its way to a 40+% gain.  The small solar names are on fire and $TSL is the leader.  I’ve trimmed the position a little the past few days as my gains are just too big not to book.

Brocade Communications $BRCD has been the biggest loser, I had to dump the position with a 21% loss, which has turned out to be the right play as $BRCD has gone nowhere.  I still believe in the company, and think it will be bought out in 2010, but there’s no sense sitting in this name while so many stocks show better relative strength.  I was a little impatient in Patriot Coal $PCX, taking almost a 12% loss.  $PCX is now surging above a major resistance level and looks great.

I’ve kept my exposure to energy low, but names in the space are starting to look attractive.  As well, some REITs, yes real estate, you didn’t hear me wrong, are looking strong to the upside.  I obviously missed the boat on much of the run in healthcare, but will be sure to add there on a pullback.  I have exposure in $ESRX, $MHS, and $CERN, but would like more.

Here are the current portfolio positions, for sales I’ve made, visit the momentum tab of the trading book.

Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see the Disclaimer page for a full disclaimer.


blog comments powered by Disqus