Monday, August 08, 2005


Momenta's Momentum

A decent day today, as my portfolio posted a $1,900 gain thanks to good moves in my energy stocks (especially DWSN, which I sold today after the stock hit my price target). I jettisoned AE from my experimental "Momentum Moose" portfolio. AE has been welded to the $22 range for the past month, and hardly qualifies as a momentum stock (if it ever was one). Still, I like the company's fundamental's well enough that I will keep it in my regular portfolio. For the sake of scorekeeping, I'll record the sale price at $21.95, which is the average of today's closing price and the price at which I sold some shares 6 weeks ago. In place of AE, I bought some shares of MNTA (what better for a momentum portfolio than a company called Momenta?). Apparently Deutsche Bank has been pounding the table recently on this stock and telling clients to load up the truck prior to tomorrow's earnings release. I figure I'll jump on board for the ride.

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