It fell 3.7% today which is just slightly more than the overall market. This is a good sign since a lot of people assume that these momo growth stocks would simply tank. They didn't. PCX was up huge today. MOS only down a little. Rimm was down 13%, but the index held up pretty well.
shortie: I have not charted my index, but have it on a seperate pad, overall for the 2 weeks give or take, it's about breakeven at this point. The main point of the exercise was to show a long/short index would beat a long only momo list, so far so good...I have 2 shorts that are actually dragging my list down GS and CLF, but for the meantime I do not want to make any changes,
I think one has to define 'beating' as well. Absolute percentage gain is one thing, but beating on a risk/reward basis (%ROR/overall portfolio volatility) is more important IMO.
Not a bad index stock. Based on the opening prices of your stocks on 06/11/08 and the closing prices on 06/26/08 your index is only down 2.59% while the broader markets are down 7.27% (DJIA) and 5.32% (NASD) over the same time period. Impressive. (I attached the excel sheet I used to calculate all this if anyone wants to look)
Mak, I would argue that a long/short mix has a long only momo list beaten in every way, including risk/reward in a huge way. He may think his picks are bulletproff, but how many RIMM's can happen before he's broke?
what are you talking about? you sound like RIMM went bust. RIMM reported two fold increase in their EPS. the company is rock solid despite the downfall in the stock price. i dont see how stock turder will go bust by holding the RIMMs of the world, unless he is using leverage.