My May Purchases
Published: 2015-05-24 15:08:00 EDT by
My last post was for purchases I made in March. Since then I haven't made any purchases in April, but in May I made two, so far. The month of May is not quite over yet for 2015, but that is how I am going to title this post. My purchases this month were for GSK and CNK.
My GSK purchase was made on May 1st and added to an existing position I had started December 23rd of 2014. As of this posting, I'm down a couple percentage points, but I am okay with that as I am far away from my target position size. There is an adage that starts, "Sell in May and go away...", and to me it suggests that I should focus more on accumulating cash and hold off on additional purchases for the summer. However, after analyzing the chart, $44 looks like a great support area to buy more if the opportunity arises.
My CNK purchase was made May 21st and added to an existing position I had started September 21st of 2012. As of this posting, I'm up 4% overall. As I accumulate cash over the summer, I suspect there may be other opportunities to buy more as the stock has been declining since April. After analyzing the chart, a price of $37.50 looks probable as a base for a turn around or a bounce. I'll be monitoring it for my opportunity to increase my position.
That's my opinion. What's yours? Disclaimer: See bottom of page.
CNK - Cinemark Holdings Inc
GSK - GlaxoSmithKline PLC
Labels: stock picks, stock strategies
Updated: 2015-05-24 15:10:17 EDT
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