July 9, 2012 Comments

Markets were down modestly today, but our stocks picks held in quite well. Walmart, Wells Fargo and Berkshire all edged up a little.

I had an order in to trim my Berkshire position by 200 shares (from 1400) if it should hit $84. With Berkshire at about $83.60 today I decided to sell 100 at the market. The other 100 is waiting for $84.

I also have an order in to trim my Walmart position by 300 shares (from 1100) if it hits $72. It was not far from that that today and I considered selling those 300 shares at the market but then decided to just wait and see if it gets to $74.

I probably should be more aggressive about trimming positions just to raise some cash and hedge my bets at least a little.

Alco came out with Q2 earnings that were quite weak but which beat expectations marginally.

There continues to be news about acquisitions taking place at good premiums. Thomson Reuters is buying FXAll at a 40% premium to the recent traded price. This suggests that acquiring companies are perceiving some bargains in stock prices.