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2015 July Update


There were hedging positions as well as investment positions this month. Price histories, adjusted for splits and dividends, were downloaded from Yahoo.


Comprehensive Strategy, call options

Selection list

The selection list was generated before the July 24 market opening:

                                    MERIT    PRICE   GROUP AND END MARKET  
RCPT   Receptos Inc                 1142    228.27  Biotechnology   US/intl
DTV    DIRECTV                       715     92.19  Util, Telecom    US/LAm
MCD    McDonald's Corp               674     97.09  Restaurants     US/intl
CCI    Crown Castle                  611     83.26  Util, Telecom    US/Aus
LB     L Brands                      592     83.62  Apparel          US/Can
SPG    Simon Property Group          517    181.38  Real Estate        intl
AXP    American Express              484 X   77.01  Credit Servs    US/intl
RAI    Reynolds American             455     79.77  Tobacco Prods        US
HD     Home Depot                    454    114.59  Home Furnish        NAm
EL     Estee Lauder                  433     89.15  Personal Prods     intl
ABC    AmerisourceBergen Corp        424    110.12  Drugs           US/intl
TJX    TJX Companies                 415     68.24  Retail,Variety  US/intl
UNP    Union Pacific                 415 X   92.12  Railroads            US
CI     Cigna Corp                    400    154.36  HC Plans        US/intl
MO     Altria Group                  399     53.82  Tobacco Prods   US/intl
CMCSA  Comcast Corp                  392     62.47  Entertainment      intl
UNH    UnitedHealth Group            392    119.33  HC Plans             US
DRI    Darden Restaurants            391     74.87  Restaurants      US/Can
ROST   Ross Stores                   378     52.89  Apparel              US
AGN    Allergan plc                  377    314.95  Drugs            NAm/EU

Portfolio

I sold LUV16C35 because LUV developed a downtrend.

Due to insufficient cash, there was no purchase. RCPT and DTV would have been disqualified because they are being acquired.

NI17C45 is now NI117C45. The underlying stocks for each contract are 100 CPGX (Colombia Pipeline) and !00 NI.

             GROUP AND END MARKET     QTY       START             END        
LUV16C35    Airlines             US    10  09/26/14  3,826  07/06/15  2,164

             GROUP AND END MARKET     QTY       START        END OF MONTH  
CCE17C50    Beverage, Soft       EU    20  04/24/15  5,824  07/31/15 11,500
DFS16C60    Credit Servs         US     3  03/27/14  1,918  07/31/15    390
EL17C92.5   Personal Prods     intl    10  05/22/15  8,716  07/31/15  7,300
HD16C92.5   Home Furnish        NAm     3  08/27/14  1,984  07/31/15  7,440
MCD17C90    Restaurants     US/intl     3  12/15/14  2,320  07/31/15  3,750
NI117C45    Util, Energy         US    10  01/27/15  3,096  07/31/15  5,400
PII16C130   Recreation      US/intl     2  06/27/14  3,426  07/31/15  2,580
RAI17C77.5  Tobacco Prods        US    14  02/25/15  7,075  07/31/15 13,860
TGNA16C32   Publishing      US/intl    10  10/27/14  3,056  07/31/15  4,900
TJX17C70    Retail,Variety  US/intl    14  03/25/15 11,457  07/31/15  9,100

Capital gains

  SEP    OCT    NOV    DEC    JAN    FEB    MAR    APR    MAY    JUN    JUL
-5040   3324  18938   6812  -4838   6151 -11183 -13564   3668  -6670  12379

Comprehensive Strategy, stocks

Selection list

The selection list was generated before the July 24 market opening:

                                    TREND    PRICE   GROUP AND END MARKET  
LB     L Brands                      313     83.62  Apparel          US/Can
AGN    Allergen plc                  274    314.95  Drugs              intl
CI     Cigna Corp                    259    154.36  HC Plans        US/intl
BIIB   Biogen Idec                   250 X  385.05  Biotechnology   US/intl
MCD    McDonald's Corp               243     97.09  Restaurants     US/intl
REGN   Regeneron Pharmaceutical      242    556.61  Biotechnology   US/intl
PRGO   Perrigo Co                    240    189.71  Drugs              intl
BLUE   bluebird bio                  240 X  163.54  Biotechnology   US/intl
ROST   Ross Stores                   235     52.89  Apparel              US
AXP    American Express              233 X   77.01  Credit Servs    US/intl
SPG    Simon Property Group          228    181.38  Real Estate        intl
EL     Estee Lauder                  226     89.15  Personal Prods     intl
CERN   Cerner Corp                   225     70.00  Info Servs         intl
NRF    NorthStar Realty Finance      223 X   15.36  Real Estate          US
RCPT   Receptos Inc                  222    228.27  Biotechnology   US/intl
VFC    VF Corp                       221     74.67  Apparel           US/EU
CCI    Crown Castle                  219     83.26  Util, Telecom    US/Aus
ABC    AmerisourceBergen Corp        218    110.12  Drugs           US/intl
UNH    UnitedHealth Group            212    119.33  HC Plans             US
TJX    TJX Companies                 211     68.24  Retail,Variety  US/intl

Portfolio

Due to insufficient cash, there was no purchase. ACT Actavis plc is now AGN Allergen plc:

             GROUP AND END MARKET     QTY       START        END OF MONTH  
AGN         Drugs              intl   150  02/25/15 43,907  07/31/15 49,672
CCI         Util, Telecom    US/Aus   500  12/15/14 37,778  07/31/15 40,955
CI          HC Plans        US/intl   500  03/25/15 64,479  07/31/15 72,030
GILD        Biotechnology      intl   300  04/25/14 22,206  07/31/15 35,358
GMK         Packaged Goods  US/intl  1200  09/26/14 49,921  07/31/15 62,724
HII         Aerosp & Def         US   300  10/27/14 29,408  07/31/15 35,223
LB          Apparel          US/Can   500  01/27/15 42,723  07/31/15 40,360

Capital gains

  SEP    OCT    NOV    DEC    JAN    FEB    MAR    APR    MAY    JUN    JUL
19787   5511   9244 -12437  -6291  24434  -4081 -10871  15974   5561  -3925

Comprehensive Strategy, put options

Selection list

The selection list was generated before the July 6 market opening.

                                    MERIT    PRICE   GROUP AND END MARKET  
TDC    Teradata Corp                 185     36.02  Electron Equipt US/intl
COH    Coach Inc                     177     35.00  Apparel         US/intl
KORS   Michael Kors                  176     43.07  Apparel            intl
WYNN   Wynn Resorts                  171    103.54  Entertaninment   US/Chn
JIVE   Jive Software                 167      5.30  Software           intl
SSYS   Stratasys Ltd                 167     34.56  Computers          intl
ESV    Ensco plc                     165     21.48  Oil & Gas          intl
CALL   magicJack VocalTec            157      7.04  Util, Telecom        US
APOL   Apollo Education              152     12.93  Business Servs  US/intl
GNW    Genworth Financial            152      7.74  Insurance       US/intl
HAL    Halliburton Co                151     41.91  Oil & Gas          intl
MPEL   Melco Crown Entertainment     149     20.63  Entertainment       Chn
MAT    Mattel Inc                    148     26.07  Recreation         intl
ECA    Encana Corp                   142     11.00  Oil & Gas        Can/US
AVP    Avon Products                 142      6.26  Personal Prods     intl
DDD    3D Systems                    142     18.95  Computers          intl
FUEL   Rocket Fuel                   140      7.43  Business Servs  US/intl
FOSL   Fossil Group                  139     71.78  Apparel            intl
FTK    Flotek Ind                    138     12.80  Oil & Gas       US/intl
CENX   Century Aluminum              134     10.42  Basic Matls     US/intl

Portfolio

Before the July 6 market opening the exposure of the investments was $620,651, the exposure of the hedges was $547,195, and the tranche size was $50,000. Excluding LUV16C35, which had to be sold because it developed a downtrend, the exposure of the investments was $604,396.

I bought SSYS16P30 to rebalance. Stocks higher on the list were disqualified because they were already hedges or were in the same group and end market as existing hedges:

             GROUP AND END MARKET     QTY       START        END OF MONTH  
AVP16P8     Personal Prods     intl   100  04/17/15 12,687  07/31/15 26,500
COH16P40    Apparel         US/intl    20  04/17/15  6,524  07/31/15 19,280
FCX16P20    Basic Matls        intl    40  04/17/15  9,959  07/31/15 33,480
GNW16P8     Insurance       US/intl   140  04/17/15 18,185  07/31/15 19,320
HAL16P47    Oil & Gas          intl    20  04/17/15  9,064  07/31/15 13,200
JIVE16P5    Software           intl   200  04/17/15 17,165  07/31/15 14,000
NSR16P27    Util, Telecom      intl    40  04/17/15 15,239  07/31/15  5,800
P16P15      Entertainment        US    60  04/17/15 11,455  07/31/15  9,060
SINA16P35   Internet Servs      Chn    30  04/17/15 11,932  07/31/15  8,100
SODA16P20   Beverage, Soft     intl    40  04/17/15 12,186  07/31/15 12,400
SSYS16P30   Computers          intl    30  07/06/15  9,572  07/31/15 11,250
TDC16P42.5  Electron Equipt US/intl    20  04/17/15  7,224  07/31/15 13,000
ZU16P14     Retail,Variety  US/intl    60  04/17/15 16,075  07/31/15 15,300

Capital gains

  SEP    OCT    NOV    DEC    JAN    FEB    MAR    APR    MAY    JUN    JUL
                                                -24185  15220   5220  47168

Irregular Strategy

Portfolio

The Irregular Strategy has been discontinued due to the dearth of candidates. There will be no more purchases.

                  ASSET CLASS         QTY       START        END OF MONTH  
HYG16C92              Bonds           100  08/07/14 16,386  07/31/15  2,600
IEF16C105             Bonds           100  08/07/14 15,461  07/31/15 22,000

Capital gains

  SEP    OCT    NOV    DEC    JAN    FEB    MAR    APR    MAY    JUN    JUL
-15500 12500  -1500   1300  27300 -18100    700   -200  -9400 -11700   2700

Real Estate Fund Strategy

Portfolio

Due to insufficient cash, there was no purchase.

                  DESCRIPTION         QTY       START                      
IYR16C65       US Real Estate ETF       3  11/20/13  1,495                 
IYR16C63       US Real Estate ETF       3  12/13/13  1,450                 
IYR16C65       US Real Estate ETF       3  01/27/14  1,294                 
IYR16C69       US Real Estate ETF       3  02/27/14  1,270                 
IYR16C67       US Real Estate ETF       3  03/27/14  1,288                 
IYR16C70       US Real Estate ETF       3  04/25/14  1,180                 
IYR16C72       US Real Estate ETF       3  05/27/14  1,060                 
IYR16C72       US Real Estate ETF       5  06/27/14  1,882                 
IYR16C73       US Real Estate ETF       5  07/25/14  1,912                 
IYR16C74       US Real Estate ETF       5  08/27/14  1,897                 
IYR16C70       US Real Estate ETF       5  09/26/14  1,887                 
IYR16C74       US Real Estate ETF       5  10/27/14  1,902                 
IYR17C75       US Real Estate ETF       5  11/20/14  2,417                 
IYR17C76       US Real Estate ETF       5  12/15/14  3,162                 
IYR17C83       US Real Estate ETF      50  01/27/15 31,697                 
IYR17C80       US Real Estate ETF      14  02/25/15  7,649                 
IYR17C81       US Real Estate ETF      14  03/25/15  7,313                 
IYR17C80       US Real Estate ETF      14  04/24/15  6,207                 
IYR17C77       US Real Estate ETF      14  05/22/15  6,459                 

Capital gains

  SEP    OCT    NOV    DEC    JAN    FEB    MAR    APR    MAY    JUN    JUL
-20148 25019  11859   9253  22372 -29119   2827 -27952  -7252 -21929   8500

Easy Strategy

Portfolio

The $72,685 proceeds from the sales on April 17 will be reinvested on October 9.

Capital gains

  SEP    OCT    NOV    DEC    JAN    FEB    MAR    APR    MAY    JUN    JUL
        8617   9215   1698 -16014  20521 -11731    940      0      0      0