1) Cheesecake Factory/CAKE: Speculators miss the quality of this story (look at the daily chart) but prescient investors do not (look at the weekly and/or monthly chart);
2) Google/GOOG: Never before have we been 'offered' an opportunity of this magnitude. I have been recommending since pre-IPO, buying post-IPO, and yes, I continue to buy now - even at current prices;
3) Immucor/BLUD: Owned for several years. BLUD broke out this past Thursday from an intermediate term base within a continuing long term up trend. My favorite type of breakout;
4) Johnson & Johnson/JNJ: The poster child for long term investing;
5) Starbucks/SBUX: See Friday's blog entry;
6) Whole Foods Markets/WFMI: I stated it earlier, "The crème de la crème...";
7) American Healthways/AMHC: Please review blog archives for reasons why I like this opportunity;
8) Corning/GLW: What can I say, I always have had a soft spot in my heart for Corning. Broke out Friday from a 16 months base;
9) Radiation Therapy/RTSX: Again, please review archives for reasons;
10) Men's Wearhouse/MW: Purchased 1 February at $34/share, my objective is a nebulous 'higher high' until it reverses, but my stop is a specific sequence of closes beneath the 50 day simple moving average (sma);
11) Telewest/TLWT: Purchased in April at $18/share, my objective [again] is a "nebulous higher high until it reverses". My stop however is specific: a close beneath ~$17.75 (although this number changes with each higher high).
As a professional investor, I generate (needed) income from my trading activity. Thus, I create a mix between long term investments (wealth-building) and short term trading (income). I never chase stocks, nor do I seek just any good pattern or breakout that might come along. I trade only those opportunities that I deem as long term investments.
It has been statistically proven that, for a variety of reasons, no portfolio should exceed nine investments. My current holdings of eleven stocks pushes the envelope, exceeding the preferred number by two. These two are my short term trades which I typically hold days to weeks; sufficiently insignificant as to not fret. It is a form of discipline to restrain your purchases to a boundary; any new opportunity must displace one of the existing nine (well, eleven) before I purchase it. So I must present a compelling argument to the investment committee (me) to displace something I know, and like. An opportunity such as Google/GOOG I foresee as being within my portfolios for years, perhaps ten years or more. I can foresee no argument to rid me of the vision the company executives have for it, and I have for its stock.
Hmm, I begin to venture into writing a 'profile' rather than update my portfolio holdings! I will stop here. Questions...?