This past week has been one for ups and downs in terms of the market, some stocks, and even the stock portfolio. Started the week off with the usual tariff talk this week, but the market has taken most of it lately in relatively high spirits. However, a few like Hewlett-Packard (HPQ) kept falling more after reporting earnings this week. The mainstream acceptance of AI PCs has not materialized yet and may never do so. The only AI driven device that would have a shot at this is a small mobile device like a phone. Of course, the problem of this would be making the device stout enough for AI capabilities. With this in mind, went ahead and sold all my shares in HP, including those from reinvested dividends. The yield is high for a tech stock, but the growth is almost nonexistent.
The next move in the portfolio was to start a position in Power Solutions International (PSIX). This stock is not covered by many analysts, but should be as it is a leader in powering data centers. First started watching PSIX at about $30, but the stock has steadily climbing up ever since. Thus, was finally able to start a position at 41 this week. The current 52 week high is 45 so that is far away now. The 52 week low? Would you believe in the low single digits?
Lastly, had bought Elf recently at $65 and it just jumped to the $110 to $115 area in the past two days. The stock was up on a sales and earnings beat but the most popular reason seem to be the buying of the more expensive Rhode brand for $1 Billion. Furthermore, Elf derives a whopping 75 percent of its production from China. The problem with this? China and Trump hit a snag in their ongoing Trade Talks again just today. That said, I promptly exited my Elf position for a great short term profit!
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