My portfolio enjoyed a slight loss today mostly due to the shake down I received in shares of RGLD and CEDC. Moody’s decided today was a good day to throw hot potatoes at the Russians by downgrading their debt. I don’t entirely see how this company’s tiny debt matters when a Russian billionaire has taken the stock under his wing. Their debt is peanuts to him. Fund it.
Royal Gold on the other hand is whipping around, undecided on whether or not to hold this very important price level. I don’t intend to stick around and find out after Fly damned the entire space.
Finally, I added to my shares of SINA near the highs. I still like the name.
Banks caught a slight downdraft too (sans my Goldman).
All of these losing propositions were muted by my Facebook position.
Overall, the market traded lower in a rather orderly manner, especially the S&P which spent the day filling its opening gap.
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