Day 2: Building this portfolio

Day two was much the same as Monday, continuing to add positions in a flurry as signals were popping off everywhere.

Let's start with the bad news first... in only the second day, a position triggered its stop-loss and was sold. ANSS is the stock. Bought it Monday at $48.26, and sold it Tuesday for $44.00. The position lost 8.8% in total. It was nice knowing you.

Four more positions where added today, and when you look at my portfolio now, you'll notice heavy weight in the Energy and Machinery sectors. This is where the bull market is now. Can it change tomorrow? Absolutely, and I'll have to keep on my toes when it happens.

As it stands now, even though energy stocks are in a bull market, I will still seek to take profits on the way up as long as the overall market continues to be in correction mode. There's an old saying on Wall St: "Bulls make money, bears make money, but pigs gets slaughtered." With that in mind, when the market is in a correction, there is no point in overstaying your welcome. You'll likely regret it.

Here the additions and subtractions to the portfolio on Tuesday:

Subtraction:
ANSS, Ansys @ 44.00

Additions:
CAM, Cameron Int'l @ 55.76
SWN, Southwestern Energy @ 48.58
ECA, Encana @ 92.02
CNQ, Canadian Natural Resources @ 103.21

Each weekend, I will display my total portfolio and discuss it's overall performance. Stay tuned.

Sean McLaughlin
Chicago, IL