Anemic volume
Posted by Jack Haddad on December 28, 2007 at 4:57 pm
Team,
This entire week has been very weak in trading volume. Most traders are on an extended holiday vacation. However, this will change next week as traders come back to ascertain a slew of economic indicators, most importantly the highly watched unemployment numbers due next Friday.
I expect volatility to cause wild swings as portfolio managers adjust their positions for the start of a new year. Stocks of interest that I have been watching carefully and adding are: AMD, KSS, M, JCP, SLM, UBS, WB, C, MER, AMGN, and INTC. I currently own some of them while others are planned to be bought next. Noteworthy is AMD. At this level, it continues to bottom and find a base. As I said before, if youre patient with this one, you’ll prevail. AMD will not remain at these levels very long as theyre subject to either a buyout or a hostile takeover. Currently, I own 107,000 shares. All are currently unhedged ( I don’t have calls written against the underlying shares).
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Was curious if you have a general timeframe in mind for the items listed above; are you hoping that they make a few percent move in the next few months or are you thinking about these making 20%+ moves but over a longer period of time? I don’t know if your portfolio has a combination of shorter term trades plus longer term (6 to 12 month) holdings.
Happy HOlidays.
Mike
Mike, I don’t have a particular time frame set for each security because I have to assess market conditions on a daily basis. That said, the markt may compel me to hold a stock for as long as i see fit. As you’ll notice, I do lot of intraday trades. Other transactions are more core holding hedged with covered calls. More often than, I trade around the core holdings I have in my portfolio.