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Bookkeeping: Adding to Cleveland Cliffs (CLF)

2 July 2008, 11:30 am
by
Fund my Mutual Fund

I had a feeling this would be a very busy week for us....

We added a touch of this name this AM since we had cut it back so severely, but I am adding another layer here in the $96-$97 range (in larger scale as it falls) - it is now down 16% today alone. Cleveland Cliffs (CLF) now up to 1.7% stake. It just scraped its 50 day moving average at $96. Amazingly, despite the carnage - this really only takes names like this back to where they were 3 weeks ago. Stocks definitely fall a lot faster than they usually rise.

I have a whole subset of stocks I am willing to make into 4-6% type of positions - I am just waiting to see if they fall to prices that would make me more content. Whoever falls first of this small group will get those slots... this would be one of those "best of class" names. If we can get a move down to the $70s or $80s I'd be moving it up the food chain in terms of position in portfolio.

[Jun 24: Cleveland Cliffs - a Man Among Boys]

Long Cleveland Cliffs in fund and personal account


Mission: Raise $7M from readers to launch a real mutual fund; this is my journey. By providing a transparent platform for a \\\'virtual\\\' growth mutual fund, I\\\'ll create a mechanism by which readers can view my thought process & results in creating a 3 year return worthy of investment. I\\\'ll invest in 50-60 positions with secular growth trends such as: global infrastructure, agriculture, energy, digital entertainment, etc. Economic and social commentary thrown in along the way. Comments welcome!

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