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Blast Investor Real-time Plus           by Henry Lu

Trade Alert: Sold all HRB   11/24/2004


Sell Alert


Today I sold all shares of  HRB  for  the model portfolio at -12% loss.  The sale is due to fundamental change of HRB business disclosed at earning report.

Sale rational - disappointing mortgage business


HRB just reported disappointing earning yesterday. The mortgage business is deteriorating much worse than earlier management's expectation. The mortgage profit is expected to drop - 30% this year instead of flat in rising rate environment. Earlier management's more optimistic view was not correct in that there are much more competition in mortgage business and that rising interest rate has much more bad effect on HRB business.

This stock PE is low (13) and price to free cashflow is even lower at 11. It is a cheap stock but its upside potential is limited too with poorer mortgage performance ahead.

The loss took in HRB can also compensate the gain in NEN, NTES  etc gains. There are tax benefit to do so before year end as well although tax is not main part of sale rational.




Blast Investor Model Portfolio Update


Blast Model Portfolio - Performance (as of 11/24/2004) :


Portfolio inception date
 12/31/2003
Portfolio inception value
 $89,000
2004 YTD Performance
 45.56%
S&P500 Index 2004 YTD Performance
 5.88%


Blast Model Portfolio - Open Positions
Symbol Last Shrs Value Paid Gain
ADGO.OB 1.33 9,000 $11,970.00 0.78 $4,940.00 +70.27%
CHK 17.58 1,100 $19,338.00 13.90 $4,038.00 +26.39%
EXXa 1.50 6,500 $9,750.00 1.638462 -$920.00 -8.62%
LIBHA.PK 4.55 1,200 $5,460.00 5.10 -$670.00 -10.93%
NRG 31.93 670 $21,393.10 23.05 $5,939.60 +38.44%
NTES 52.90 150 $7,935.00 36.60 $2,435.00 +44.27%
SOHU 16.95 700 $11,865.00 24.882857 -$5,573.00 -31.96%
USG 30.92 950 $29,374.00 18.425789 $11,849.50 +67.62%
WLL 30.17 600 $18,102.00 22.683333 $4,472.00 +32.81%
$$CASH -5,694 -$5,694.00 - - -
10 symbols Total(USD):
$129,493.09




Model Portfolio Transactions
Date  Type Symbol Shares Price Comm Amount Notes
Nov 24, 2004 Sell HRB 350 47.35 10.00 16,562.50 - 12.31%
Nov 4, 2004 Sell NTES 100 46.50 10.00 4,640.00 + 27.05%
Oct 19, 2004 Buy EXXa 1,500 1.60 10.00 2,410.00
-
Oct 6, 2004 Buy EXXa 5,000 1.65 10.00 8,260.00
-
Oct 6, 2004 Sell NEN 100 80.00 10.00 7,990.00 + 48.15%
Oct 5, 2004 Buy USG 250 18.75 10.00 4,697.50
-
Oct 5, 2004 Sell NTES 100 39.12 10.00 3,902.00 + 6.9%
Sep 30, 2004 Buy USG 700 18.31 10.00 12,827.00
-
Sep 29, 2004 Sell NEN 100 79.65 10.00 7,955.00 + 47.5%
Aug 5, 2004 Buy WLL 250 23.50 10.00 5,885.00
-
Aug 2, 2004 Sell NEN 100 69.95 10.00 6,985.00 + 29.5%
Jun 17, 2004 Sell HCA 250 40.30 10.00 10,065.00 - 4%
Jun 17, 2004 Buy NRG 670 23.05 10.00 15,453.50
-
May 24, 2004 Sell ADGO.OB 13,000 1.55 10.00 20,140.00 + 98.7%
May 10, 2004 Sell HCA 250 39.97 10.00 9,982.50 - 4.8%
May 10, 2004 Buy SOHU 200 15.59 10.00 3,128.00
-
Mar 5, 2004 Buy WLL 350 22.10 10.00 7,745.00
-
Jan 26, 2004 Sell WRP 700 17.40 10.00 12,170.00 - 5%
Dec 31, 2003 Buy CHK 1,100 13.90 10.00 15,300.00
-
Dec 31, 2003 Buy NEN 300 54.00 10.00 16,210.00
-

Date  Type Symbol Shares Price Comm Amount Notes
Dec 31, 2003 Buy HRB 350 54.00 10.00 18,910.00
-
Dec 31, 2003 Buy NTES 350 36.60 10.00 12,820.00
-
Dec 31, 2003 Buy SOHU 500 28.60 10.00 14,310.00
-
Dec 31, 2003 Buy LIBHA.PK 1,200 5.10 10.00 6,130.00
-
Dec 31, 2003 Buy ADGO.OB 22,000 0.78 10.00 17,170.00
-
Dec 31, 2003 Buy HCA 500 42.00 10.00 21,010.00
-
Dec 31, 2003 Buy WRP 700 18.30 10.00 12,820.00
-
Dec 31, 2003 Cash In -
-
-
-
 89,000.00 Inception