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Blast Investor Real-time Plus           by Henry Lu

Trade Alert: Reduced NEN   9/29/2004


Sell Alert


Today I sold 100 shares of  NEN in the model portfolio. The current model portfolio only has 7.4% of equity in NEN now.  NEN is thin stock so that limited order of buy and sell is recommended. Do not use market order to trade NEN.

Analysis on NEN

NEN is still under-priced compared to its real-estate holding value. However the discount has been shrinking over past few years. My current analysis indicates that NEN real estate holding could still be worth around $100 - $110 per share. However, historically, a closed holding stock of limited partnership like NEN typically trades at 10% to 20% discount to its true value. Therefore, reducing NEN positions gradually has been the policy for Blast Investor Model Portfolio so that proceeds can be invested into more promising stocks.  For detailed analysis on NEN please read my previous report dated Sept 16 titled "Efficient Market Hypothesis and NEN WLL". 




Blast Investor Model Portfolio Update


Blast Model Portfolio - Performance (as of 7/29/2004) :


Portfolio inception date
 12/31/2003
Portfolio inception value
 $89,000
2004 YTD Performance
 20.47%
S&P500 Index 2004 YTD Performance
 -0.19%


Blast Model Portfolio - Open Positions (as of 7/29/2004) :
Symbol Last Shrs Value Paid Gain
ADGO.OB 1.11 9,000 $9,990.00 0.78 $2,960.00 +42.11%
CHK 15.66 1,100 $17,226.00 13.90 $1,926.00 +12.59%
HRB 48.52 350 $16,982.00 54.00 -$1,928.00 -10.20%
LIBHA.PK 4.50 1,200 $5,400.00 5.10 -$730.00 -11.91%
NEN 79.65 100 $7,965.00 54.00 $2,555.00 +47.23%
NRG 25.85 670 $17,319.50 23.05 $1,866.00 +12.07%
NTES 37.62 350 $13,167.00 36.60 $347.00 +2.71%
SOHU 16.46 700 $11,522.00 24.882857 -$5,916.00 -33.93%
WLL 30.40 600 $18,240.00 22.683333 $4,610.00 +33.82%
$$CASH -10,594 -$10,594.00 - - -
10 symbols Total(USD):
$107,217.50




Model Portfolio Transactions
Date  Type Symbol Shares Price Comm Amount Notes
Dec 31, 2003 Cash In -
-
-
-
 89,000.00 Inception
Dec 31, 2003 Buy WRP 700 18.30 10.00 12,820.00
-
Dec 31, 2003 Buy HCA 500 42.00 10.00 21,010.00
-
Dec 31, 2003 Buy ADGO.OB 22,000 0.78 10.00 17,170.00
-
Dec 31, 2003 Buy LIBHA.PK 1,200 5.10 10.00 6,130.00
-
Dec 31, 2003 Buy SOHU 500 28.60 10.00 14,310.00
-
Dec 31, 2003 Buy NTES 350 36.60 10.00 12,820.00
-
Dec 31, 2003 Buy HRB 350 54.00 10.00 18,910.00
-
Dec 31, 2003 Buy NEN 300 54.00 10.00 16,210.00
-
Dec 31, 2003 Buy CHK 1,100 13.90 10.00 15,300.00
-
Jan 26, 2004 Sell WRP 700 17.40 10.00 12,170.00 - 5%
Mar 5, 2004 Buy WLL 350 22.10 10.00 7,745.00
-
May 10, 2004 Buy SOHU 200 15.59 10.00 3,128.00
-
May 10, 2004 Sell HCA 250 39.97 10.00 9,982.50 - 4.8%
May 24, 2004 Sell ADGO.OB 13,000 1.55 10.00 20,140.00 + 98.7%
Jun 17, 2004 Buy NRG 670 23.05 10.00 15,453.50
-
Jun 17, 2004 Sell HCA 250 40.30 10.00 10,065.00 - 4%
Aug 2, 2004 Sell NEN 100 69.95 10.00 6,985.00 + 29.5%
Aug 5, 2004 Buy WLL 250 23.50 10.00 5,885.00
-
Sep 29, 2004 Sell NEN 100 79.65 10.00 7,955.00 + 47.5%