Summary:
With today’s 0.5% gain, I was up every day this week. ACY rose another 10%. Its up 21% since I bought it yesterday – probably my most timely purchase ever. Too bad its such a tiny position. I mentioned yesterday that this stock was reported to be on the naked short list, but I don’t think that’s a convincing reason for the move. What is? Don’t know.
ALSWF, TNH, and HudBay Mining (HBMFF) also had good days. I haven’t mentioned the latter yet — its a zinc mining company with a forward PE of about 5. The other big mover of the day: BKC, up 5%. Not good for my short.
My trades today: I bought Navios Maritime (BULK), a dry-goods tanker company with a low PE. To fund this I sold MCA, a fund holding California municipal bonds.
Positions:
Long: JEQ JSC LMC AUY SLW NTO NXG HBMFF JAGNF FFHL EGLE AOB XSI TDF KF UAHC FF NTLRF TNH NFI ACY LMGGF BULK
Short: JCG BKC
Cash: 0.5%
Trades: bought BULK@7.00, sold MCA@14.07
Read:
More bad news for the housing sector
Stocks Researched:
Hours spent on market: 0.5
Positions most worried about:
Positions most sanguine about: everything
Biggest market worries: no worries!!
Thinking about: closing up NFI, BKC?
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: up 1.0 ??
Tech: ??
Japan: up 2.5
China: up 3.0 economic growth, Economist article 2/8/07
Silver: up 2.5, industrial, china demand
Gold: up 2.5,dollar weakness, china demand
Copper: ??
Zinc: up 3, low LME warehouse stocks
Real life: fairly productive day, grinding along
Previous night sleep and exercise: 6 hrs, soccer yesterday
Mood: feeling energetic and optimistic. Could it be the very nice weather today? the portfolio gains this week? the fact that studies seem to be progressing? Probably some combination.
