Friday, May 15, 2009

A Couple End of the Week Purchases

It was nice to see the market pull back a bit this week. I was thinking we were going to see S&P 875, and we got close. We'll see what next week brings. I did make a couple of small purchases to take advantage of weakness in case we rally out of the gate next week.

I picked up some News Corp. (NWSA). They just reported a great quarter, and are killing it in many of their companies. I'll talk more about it later, but you're in good company if you own this one. Its one of Seth Klarman's largest holdings. I picked up some great info on this from Todd Sullivan.

I also purchased a small amount of the double long oil fund (DXO). Oil pulled back 3% today, and I do feel we're going to be moving higher more sooner than later.

That's it for now. Have a great weekend. I'll follow up with more details on these purchases soon.

Disclosure: Long NWSA and DXO.

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