Wednesday, June 18, 2008

Few winners on a down day

The broader markets are down so far at midday, as are most of my portfolio holdings. One of the few exceptions is Ensco (common 2.5% of portfolio, calls 4.5%), which is pushing towards $82. This price already exceeds Wall Street consensus price targets, but the valuation is still fair in my opinion. I'm also closely watching the financials today, to see if recent lows will hold, or if the group will roll over. The regional banks have been taking the worst of it lately, as they raise capital to shore themselves up.