Portfolio Progress – Week of August 27, 2007

August 26, 2007 | Posted by Jorge

The dog days of summer finally arrived on Wall Street this week. After the surprise discount rate cut last Friday, the market climbed most of the week, having one of the best weeks of the year. Investors still appeared to be skittish with the credit worries as shown by the fairly light trading volume this week.

Monday (8/20): VMWare’s IPO was released to great fanfare. After opening at $60 (VMW), the stock closed out the week at $71.30. EMC benefits greatly from VMWare since they control 80+% of the spin-off company. However, shares of EMC remained mostly flat for the week. At this point, EMC may be undervalued and with the tech season in full spin it my be worth analyzing further.

Thursday (8/23): An appeals court cleared the way for Whole Foods (WFMI) and Wild Oats (OATS) to merge. Shares of both rose after the news. The deal may be finalized on Monday.

Total Deposits: $1,447.26
Current Portfolio Value: $1,316.50
Profit (Loss) as of August 26, 2007: -$130.76
Profit (Loss) as of August 23, 2007: -$117.15
Profit (Loss) as of August 15, 2007: -$51.96

Part of my portfolio has yet to clear (sold some shares of XTO and LVLT this week) and as a result my total portfolio value is less than it should be. Next week should have most of these transactions cleared. I also have a fairly heavy bet on an XTO option. I expect XTO to make a strong comeback this week. At $53 a share, XTO is incredibly undervalued. Natural gas prices should begin to rise as summer winds down and folks in the north prepare for the winter. Have a safe week of investing!

Category Categories: Equities, Portfolio Progress | Tag Tags: | Comments