Quick Update & Adding a Stock Pick

So I didn't write a weekly recap last week. Sorry, busy with a trip to Indianapolis, playing Madden on the Wii and drinking. And I'm not going look back either. I'm not going to take the time to crunch the numbers. It isn't worth it. Why?

Well, because I am running away and hiding from the S&P this week. Las Vegas Sands (LVS) has broken out of it's trading range and made a significant move higher. Since the start of the week the stock is up over 16%. The move is based on an upgrade by JP Morgan analyst calling for the stock to hit $120 and giving it an "overweight" value. The stock closed today at $117.

I have also had Barrick Gold (ABX) on a nice little run. The stock has gained over 14% percent since we returned from the Labor Day Holiday. Gold has been the talk lately with so much talk of the Fed cutting rates. If rates are indeed cut, gold does move separately from the dollar. Not a bad place to be.

JP Morgan also issued an upgrade to "neutral" from "underweight" for both Transocean (RIG) and GlobalSantaFe (the company RIG is acquiring). Let's see what that does for the stock over the next couple of days.

At this time, I am going to add another stock to my portfolio. I am going to add DaVita (DVA) based on Jim Jubak recommendation here. Diabetes is something that is immune to stock price ups and downs and DaVita provides the services necessary (such as dialysis).

I think this is a great idea and I am not afraid to ride on someone else's research and know-how. I think Jim Jubak is someone you should read every Tuesday and Friday. He covers a lot of ground in his writing. Is not afraid to admit when he is wrong. And explains the most difficult ideas in easy to understand terms.

Back to Our Winning Ways

Three out of four, thus far. That is how many times my stock portfolio has outperformed the S&P since I started this blog.

What I did Get Wrong

This week was not as rocky as I thought it might be. Trading volumes were low, as they normally are this time of the year, and some M&A activity was seen with E-Trade and TD Waterhouse apparently joining forces. I was wrong on my housing information. New home sales actually posted a better than expected report, with sales actually showing a gain. But I still do not hold much weight in the numbers. We really didn't see the news of a "credit crunch" until the end of July. I don't think we will be seeing an uptrend in sales August.

What I Got Right

The S&P gained 2.3% this week. My portfolio gained just a smidge more than 3%. My big winner this week...Barrick Gold (ABX) posted a solid gain of 8.5%. Las Vegas Sands (LVS) bounced back nicely with a gain of 7.9%. And even my dog, so far, Transocean (RIG) finally put together a nice week with a gain of 4.3%. RIG's gained was based partly on the fact that Hurricane Dean missed the companies equipment in the Gulf of Mexico. It was a good week for most of my picks. In fact, I only had one loser, PepsiCo (PEP) which posted a lost this week of 1.7%. Not too bad.

Personal Note

I promise this will be the last little note that I post for a while, since this is the third in two days. I started this blog a month ago, just hoping to find a voice and maybe get some traffic. I think I have finally hit a groove with how I want my blogs to read. I never expected to be asked to write on another site, such as when Nesteggr came and asked a week into my blogging experience. Full Disclosure: Nesteggr pays for my services. I also started a third blog, Mortgage Bullet, where I am giving advice on the home buying process. It's definitely a different blog structure. Check it out too. I am very excited with my progress and look forward to continue providing content here and on my other blogs. Thanks!