Tuesday Rundown

Overall it was a slightly down day for the market. FOMC meeting was the key item today, and there was a huge selloff prior to the meeting that caused a rather large dip in the indexes.

I had been talking the other day about how I had a fairly large position in cash now and wasn't sure if I wanted to put it to work or sit on it, well with the selloff today I felt it put a lot of my favorite positions 'on sale' so while I didn't buy at the exact bottom today, I loaded up on a lot of my favorite stocks at a discount on the huge dip today. I'm not going to give reasoning like I do a lot of other days because there were too many to count, but the positions I added to today were: AAPL, ARG, COF, GOOG, HAL, LOW, MA, MRVL, PSPT, and VDSI. Those (plus a couple of others that didn't dip today) are all stocks I have rated '1' in my portfolio. I use Jim Cramer's rating system where 1s are stocks I'd add on to at current prices, 2s are ones I would only add on to at a significant pullback, 3s are stocks I'm looking to trim into strength, and 4s are stocks I'm looking to sell at any cost. I re-rate them every week based on position size, current price, outlook, etc.

At any rate I also initiated two short term trades today in CAAS and SGP, and got stopped out of 3 short term trades in NTES, YRCW, and TEVA on the dip today at a 2-3% loss for each trade.

My portfolio suffered a little more than the indexes did today, primarily due to significant dips in Mastercard and Apple, two stocks I like a lot and have significant parts of my portfolio invested in.

I still have a little bit bigger than normal cash position that I may deploy on further dips, but I'm also comfortable just sitting on it in the current market environment.

-Rizen