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Portfolio / NOV Update

posted Jul 5, 2009, 3:39 PM by Mohit Kumar   [ updated Jul 5, 2009, 3:40 PM ]

I hope you all enjoyed the holidays! Now, it is time to get back to our buzzing ways.

Portfolio Update

The market has taken some beating in last two weeks. Nevertheless, 9 out of 10 stocks in our portfolio continue to remain profitable and the one which is not will be discussed below. This is a great indication for what we may expect out of these picks when things improve. These are very tough times to invest as the economy is still shaky and the market continues to swing in either directions. The economy is still amidst a crisis and we will let the economists and analysts keep guessing when the recession will end. Our strategy is emphatic and does not change irrespective of the market conditions. Before we discuss NOV, I would like to remind our strategy which we all must follow:
  • Visit the Recommendations page at least once or twice a day. The various real-time gains/returns will help us sniff buying opportunities!
  • Keep buying regularly even if the market is declining. Don't buy just one stock and wait for miracles.
  • Do not let temporary losses scare you. Often we tend to wait for market to improve and in the process miss out on the best time to Buy! I repeat, "Keep Buying"!
  • Keep diversifying amongst different picks.
  • Exit some positions periodically to lock gains and re-invest, while Hold some for extended durations
  • If you need help, feel free to email me for more guidance.
NOV Update

Our favorite equipment and component provider for oil and gas drilling has taken some beating in last 2 weeks. But the good news is that this sell off is solely attributed to fall in oil prices and nothing specific to the company. The stock is vulnerable to pullback in commodity prices but the long term prospects of NOV still seem very bright. Those who already own NOV, should continue to Hold while those who have not bought it yet, may consider grabbing some. If the stock falls to around $27.50, it could be a good entry point! That said, keep diversifying amongst other picks as well and if you already have enough NOV, don't buy more. A new addition to our portfolio will come up anytime in next 2 weeks, so stay tuned!