Portfolio Update

So, it has been awhile since I gave you an update on my stock picks. This post will focus on performance over the last month of this year. Starting next year I will try to bring you an update at least once a week (or two weeks).

First, my loser stocks. I start with this first because I would like to end on a high note. Right?

Ford (F): You know that F can stand for so many things. But let's agree just to say F is for failure. I don't know what I was thinking back in July when I picked this stock. And things started so well too. The stock peaked at $8.95 on November 2nd. Now the stock has plummeted and closed today at $6.70. And things don't look good going forward. Credit is getting harder to get in all credit arenas and the consumer spending outlook is gloomy at best. Not good news for Ford. I am selling the stock out of my portfolio with a loss of 23%.

DaVita (DVA): Ok, I was wrong here too. The stock has maintained it's 10% loss since it's announcement of their 3rd quarter earnings. The stock gained back a portion of it's loss recently only to see it slip away. It's time to cut my losses here also. I am going to take a loss at 9.75% since adding the stock to my portfolio.

For the most part, those two stocks have been the drag on my portfolio. Getting rid of them prior to the end of the year will help with taxes, if that is a consolation, especially in a "practice" portfolio.

As for my winners.

Transocean (RIG): With oil continuing to threaten exceeding $100 per barrell holding this stock has been a good move. It is up over 12% for the month of December and 25% since I added it to my portfolio. I don't see fundamentals changing in the oil markets and this deep driller is positioned to profit from it.

Barrick Gold (ABX): The stock is up over 5% this month. And the stock is up 24% since we added to our portfolio. ABX is the largest gold bullion producer in the world. The precious metal will continue to outperform as long as the greenback is under pressure.

For the most part, the rest of my stock picks have performed reasonably well. My portfolio was started at the end of July and the stock markets have seen a credit crunch and two 10% corrections in the meantime. The S&P has done nothing, literally, with a change of just 4 points during that time frame. A whopping .31% advance.

We are off to a great start. Let's see what the future holds.