Much Needed Pullback

Portfolio Breakdown:
APP - 3.2%
BAC - 14.0%
TBT - 15.4%
ITUB - 11.5%
AOB - 10.5%
COIN - 1.4%
COINU - 2.1%
TAMB - 26.3%
RIMM - 9.6%
HOGS - 20.6%
SDX - 6.5%
OCNF - 3.6%
BP - 7.3%
MBI - 18.8%
TRLG - 8.4%
CAD Cash - 5.2%
USD Cash - (66.6%)

USD/CAD - 1.0665

Portfolio Performance:
Return Since Last Update - (11.37%)
Return Since Inception (June 30, 2009) - 185.32%
S&P 500 - 1073.87
S&P 500 Return (June 30, 2009) - 16.86%

The Prior Week of Trading:
This was one of my worst weeks since I began tracking the performance of my portfolio; although I am more concerned with long-term value, the short term performance still stings. The broader US averages are clearly in a correction phase that may have further room to the downside. The market has chosen to ignore the fact that around 80% of companies who have reported earnings in the S&P 500 have beaten estimates, although this earnings season was expected to be a positive one given prior year comparisons. It seems as though pundits and traders are trying to find excuses to ignore positive data, citing China credit concerns and ongoing sovereign debt worries in Greece and the EU. A stock market is an ongoing price discovery mechanism and this week it seems to be adjusting itself downwards. This presents a buying opportunity for the value investor as a sinking tide often lowers all ships, regardless of intrinsic value.

TAMB spiked towards $1.60 last week on heavy volume, but has since retreated to below a dollar as investors await earnings; I put in a call to the company yesterday and they told me that they are planning on releasing full year results early next week. I am looking for the company to beat estimates of an 0.85 loss and trend back up towards the $2 mark. HOGS also sold off heavy the past 2 weeks and is sitting around its 200 day moving average; valuation metrics for this company are very compelling and I will look to add to my position if further weakness persists. There is no indication that the company is experiencing financial trouble or deterioration in customer demand. I am looking forward to February starting off better than January ended...