Thursday, November 30, 2006

Another Quick Update

Abercrombie & Fitch (ANF) came out with disappointing SSS numbers, and the stock dipped as a result. I went ahead and relieved myself of the position, dumping shares at 67.30 for a modest gain of 4.7%. Turns out that I would have been better off just holding onto American Eagle Outfitters (AEOS) instead of partially swapping. I think it is pretty clear that AEOS is still growing strongly, despite missing the consensus estimates on its own November SSS numbers. So, I will continue to hold that position.

I think it's about time for me to reshape the portfolio a bit. I have been looking to consolidate the portfolio for some time now. Basically, trim the number of different positions and increase the average position size. It's just very time consuming keeping up to speed with everything. I think tomorrow, North Fork Bancorp (NFB) will be no more, as the Capital One Financial (COF) merger completes then. At least, that's what I read.

That said, I really want to buy more Coventry Health Care (CVH), but it jumped a bit today. I might add to Montpelier Re (MRH)... I think any price under $19 is a good one. I still like Lifetime Brands (LCUT), but would much prefer a price near $19. I think Constellation Brands (STZ) is underappreciated by the market, but it's already a #5 holding, so I'll probably hold off on adding there.

Well, when I figure out what I'm going to do, I'll post it up. Today's been a good day... go market, go!

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