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August in Review: Bed Bath & Beyond, Transocean, Verisign...

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A strong August...

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In the investing game, it's necessary to be introspective, whether it be those writing research, managing portfolios for a living, or personal investors. My firm thinks it is important to review our ideas in the 'Ville and see how the concepts are holding up. Going forward expect to see a monthly review of our prior month's Buzz and Banter insights.

Marsh & Mclennan Companies

August 2nd: I wrote that MMC could be a short squeeze. The stock closed that day at $26.89 and closed last night at $29.00. The thesis is correct and my firm continues to like the idea.

Bed Bath & Beyond

August 7th: I wrote that BBBY could return to life from the land of underperformance. That day the stock closed at $34.79 and closed last night at $36.90. Earnings are due on Wednesday. The thesis was correct and we continue to like the idea.

Transocean

August 10th: I wrote about RIG being in a long squeeze and that it was dead money or an interesting short. The stock closed on the 10th at $66.25 and today finished at $71.90. The thesis was incorrect but my firm continues to like this short idea as time is on our side.

Weyerhaeuser

August 15th: I wrote that WY call activity was high and could lead to further gains. The stock closed on the 15th at $56.24 and today closed at $60.16. The thesis was correct and we will move to a neutral position here as our technical rank has faded.

Dow Jones Industrial Average

August 18th: I wrote that puts were still excessive in the DJIA names and there was more upside action. That day the Dow closed at 11381.47 and today it closed at 11540.91. The thesis was correct and we will move to a neutral position here as the put activity has dropped and calls are increasing. Is this a sign of a top?

Homies

August 24th: I discussed the potential for a short squeeze in the homies. The XHB has moved from $30.63 to $33.10 with today's close. The thesis is correct and we continue to like this trade. Shorts beware as value buyers are stepping into this trade!

Brokers

August 29th: I wrote about the lack of shorts in the brokers being a potential problem. The XBD closed that day at $207.26. Tuesday saw the XBD close at $222.11. The thesis is incorrect as the brokers continue to report strong numbers. We will about face on this idea with the next move back to support. Stay tuned.

Verisign

August 30th: I commented that the calls in VRSN were heavy and liked the upside. We noted the stock closed the night before at $20.26 and finished Tuesday's action at $21.65. The thesis was correct and we continue to like this name in spite of Yahoo's miss on Tuesday.

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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