Time to Recalibrate S&P 500-Slayer Portfolio

My Sumichrast Stock Picks need some recalibration.

The group has beaten the S&P 500. But as I reported in my April 16 article, the old-fashioned "buy and hold" strategy no longer works. That said, here's what I would do with the current Sumichrast Stock Picks:

Pulte Homes ( PHM): It's up over 11% since I first recommended it at $10.20 in February. Home building is still in the cellar and a revival is far off, but Pulte probably will be one of the first to rebound. Hold it if you own it or watch it if you don't, and if it dips below $10, buy.

Equity Residential ( EQR): After I first recommended it in February at $20.85, it's risen over 15%. Despite the dividend cut and lower second-quarter profit, I would hold this apartment owner, but if it moves higher, I would sell at a limit of $26.

BRE Properties ( BRE): It's up a healthy 9% since I recommended it at $21.71 in February. It's had good results for second quarter, and I would hold for now.

General Electric ( GE): I recommended it at $11.62 in February, and it's over $13.75 now. It looks like GE Capital may be stabilized, which is a big sigh of relief. And, with the return of the overall economy, expect GE to recover nicely. I would buy more if it dips under $13.

Yingli Green Energy ( YGE): It's up over 239% since I first recommended it in March, so sell enough to get your money out and hold the balance.

Huaneng Power ( HNP): It has had a small move since I first recommended it in March from $29.34. But it's one of China's largest power companies (and I love China energy stocks).

China Bio Energy ( CBEH): Up over 63% since I first mentioned it in March, China Bio Energy is one of China's largest bio-diesel producers. It's trading at a price-to-earnings ratio of less than 7. Expect strong growth as it expands its bio-diesel production capacity this year. I would buy under $7. (Disclosure: I own this stock).

Caterpillar ( CAT): I love this company and think it's going higher. That being said, if you bought Caterpillar in the low $30s (when I first recommended it in April at $33), take 50% off the table and ride with the balance. If you don't own it, buy it if it dips below $40.

Verizon ( VZ): This stock is stuck in a trading range between $28 and $32. (I recommended it in April at $31.73.) I like the company, but it's a long-term play. If you like to trade, buy when it dips below $29 and sell above $32.

Lennar ( LEN): Lennar is up 47% since I recommended it in May at $8.50. I like the company, but it may back down again. Take your profit, sell at $12.50 and wait for a pullback.

Home Depot ( HD): It's up 10% since I first recommended it in May at $24. Hold for now, but if we see $26, I would sell and take your profit.

Lowe's ( LOW): Up almost 20% since I first recommended it in May at $19. Sell and wait for a pullback.

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