Why are they playing country music here? Are they trying to get me to take the cowgirl theme a little further? Well, I decided to reverse cowgirl with the Sultan today and got out of the full position at market - which was then $20.7635. We parted amicably at a +15.03% on this partial position, although minor mistakes have been made along the way. This was a bit of a bumpy ride, wasn't it?
I didn't look at too many balance sheets this weekend. I decided to compare notes on my favourite sector, though, and was shocked when I realised that the Sultan's balance sheet has changed drastically since I bought it in 2010. The balance sheet I married had way more cash than debt. Now, there's barely about enough cash to cover debt on BCS's balance sheet. I decided I wanted out - at least temporarily.
So whose trend do I ride next? I haven't figured it out yet. The risk-taker in me says get into more C, but no one in their right mind would invest almost their entire portfolio in one stock - even if Soros and Paulson are in it together. Besides, HSBC just lowered their earnings target after posting merely $13 billion in profit. Just $13 billion? We don't like that... LOL.
With all the regulatory measures that are being taken against the banking sector, one thing matters more than anything in my bimbo opinion - and that one thing happens to be topline. For without topline, wherefore would bottom line come from?
Unfortunately, Sultan BCS's topline seems weaker than other banking sector stocks, so now I'm going to find something better to do with that cash.
For now:
+0.60% on the SBA
-0.23% on the Roth IRA
I am far from pleased with today's price action because my portfolio's moving kind of like the Dow again, so we're going to have to try something new....
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