Friday, August 15, 2008

Strange Times

This market has been strange indeed. By now, everyone's well aware that there are no real trends right now, and they change by the day. It makes it difficult for investors to stomach. Warren Buffett's portfolio filing came out. Buffet stopped adding to his stakes in financial stocks, which is a first in some time. His buys were in utilities, industrials, and health care.

I also noticed Ken Heebner's portfolio. Its been lightened up a bit. He holds much less agriculture, metals, and steel stocks than in previous quarters. Its difficult to discern if this is a trend, or if he needs to move in and out of these names to keep his quarterly numbers up.

It makes it difficult to stick to the strategy, and I've done a little short term trading. No major positions of course, but small positions shorting financial stocks, and buying various names.

The announcement of the massive new solar farm in California is encouraging. It proves that utilities and corporations won't wait for Washington (who continues to sit on its hands) for direction here. As I've said before, if there's a need, the economy will find a way to provide it. We cannot count on our legislators here.

Well, nothing major as we head into the weekend. No big changes in strategy. Just going with the flow.

Have a great weekend!

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