Day of Contrast
August 29th 2006 13:45
It was a total opposite of what was yesterday's market and portfolio movement. While the ASX S&P 200 benchmark index gained 0.86%, riding on the hype of potential takeover of Aussie firms, lower oil price and a good lead from Wall Street overnight, the Portfolio 1 - EW reversed its fortune instead by a loss of -11.6% in value, currently standing at 10.41% at closing. Profits took a loss of -15.16% from $2,130 to $1,807.
TPI, DOW and AVO, among the six winner stocks, were the heaviest losers for shedding a total of $348 with TPI suffering the heaviest of all with a loss of $230. MLI and MRE gained $10 and $100 respectively while IVK remained unchanged.
Nevertheless, the total portfolio value still remains above 10%.
Reasons for the reversals? It COULD be due to profit taking by investors but uncovering the real reasons require a fair bit of time of analysis of which, unfortunately, I do not have the luxury to afford it for the time being.
Winner stocks are highlighted in yellow.
TPI, DOW and AVO, among the six winner stocks, were the heaviest losers for shedding a total of $348 with TPI suffering the heaviest of all with a loss of $230. MLI and MRE gained $10 and $100 respectively while IVK remained unchanged.
Nevertheless, the total portfolio value still remains above 10%.
Reasons for the reversals? It COULD be due to profit taking by investors but uncovering the real reasons require a fair bit of time of analysis of which, unfortunately, I do not have the luxury to afford it for the time being.
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There are several more stocks that I would like to include into the portfolio but as the month of August is comind to an end, I might do a post month porfolio formation of the complete set of stocks for Portfolio 1 - EW and have it observed for the following two to three months. | 63 |
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