990101 Portfolio down by 28.7 points w/e July 30
Unit values fell from $C169.26 (990723) to $C150.35 (990730) i.e. from accumulated gains of 156.8% (990723) to 128.1% (990730).
During the week 4 out of the 6 stocks went down in price, Financialweb remained flat and only Freerealtime experienced price appreciation. Of the 4 stocks which fell in prices, Custom Tracks went down from $48.00US to $41.62US due to profit taking, accounting for 51% of the weeks 29 points price depreciation.
A lot of investors have caught on the fact that Custom Tracks have been trading in the $37US to $52US range over the past few weeks. Many investors have started riding the wave by buying in late thirties and selling in the late forties or early fifties depending on their risk tolerance. The target for CUST remains $150US by June 2000.
Starnet was the second largest contributor to the 28.7 points loss for the week, accounting for 47% of the week's price depreciation. Starnet is still suffering from the aftermath of the LVC Levy false lawsuit last week. We do not expect Starnet to gain back its price momentum in the short run, until it counter suits Mr. Levy for issuing a false press release with the intent to adversely affect Starnet stock price.
$C = Canadian dollars, $US = US dollars
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