The first week of the year is in the books, and by many standards the most important week. I really have no opinion on the matter, I approach every week the same, namely, to attempt to make the value of my portfolio at the end of one week more than what I started the week out with. The myth behind the first week is that if we finish up strong, than we are also likely to finish strong for the entire year and vice versa. They also say the same about the first month, etc.
On the week, the Dow finished up 1.82%, followed by the Nasdaq at 2.12% and then the S&P at 2.68%. Not a bad way at all to start the year. As for myself, I had about half my money on the sidelines in cash and the rest in DDM, HPQ, LXK, OSG, and PETS. My only transaction of the week was closing out half my position in LXK at $26.68. On the week my portfolio increased in value by 1.94%, which I feel completely happy about considering how much money I had on the sidelines.
Biggest mover of the week for me was OSG which had also had an incredible day today, closing up 4.77%. I will tighten my stop-loss in this holding on Monday by a couple of points – but rest assure I will let you know the exact stop for it.
Hope you all have a great weekend and get well-rested for Monday!