Morning Matters:

Couple Cleanup Items On Portfolio
by Geoff Garbacz

June 18, 2010

Monday we did not publish the portfolio update. Through last nights close, there are six winners and two losers. The portfolio is up 416.13% and current positions are up 63.64%.

The portfolio is 67% invested and 33% in cash. We hedged two positions. Puts were bought on Visa. They will expire worthless. This will raise our entry in Visa to $74.81. On the other hand, Monsanto puts have gained $2.35 and our cost on Monsanto now drops to $52.54. We will continue to hedge MON and sell the June puts and buy July $52.50 Puts for $3.79.

Cash is remaining at 33% until we get convinced that a sustainable rally that can last for 1-2 months is evolving and the current moves of the recent lows does not falter in the next week or so.

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