Summary:
Lot’s of fireworks today resulting in a 1.3% gain. Six positions with >4% gains: LMGGF 4.6%, AOB 6.5%, TNH 6.7%, XSI 8.8%, ALSWF 15.5% (split between yesterday and today when the Canadian markets were open), and ACY up 23%! I can’t explain this last one and so sold at 19.00 for a 47% gain since I bought on Wednesday. If I can do this on a regular basis I’ll start charging for this blog – though I guess in that case there will be no need:). I think this was a fairly solid pick based on fundamentals (and a little impatience), but a 47% return in less than a week involves a certain amount of luck.
I was not so fortunate with my other purchase from last Wednesday. After hours NFI reported absolutely horrible EPS of -$0.39 vs. expectations of $0.73. They also said they may de-REIT, presumably to conserve cash they would otherwise have to pay out in dividends. I sold after hours at $13.13, considerably better than the $11.84 after hours’ close, but well below my $17.48 purchase price. I considered selling this one during the day, but thought that even with somewhat below expecation earnings they’d be okay, as LEND was last week. But the announcement was just too terrible. So my Wednesday trades end up almost a wash.
Positions:
Long: JEQ JSC LMC AUY SLW NTO NXG HBMFF JAGNF FFHL EGLE AOB XSI TDF KF UAHC FF NTLRF TNH LMGGF BULK
Short: JCG BKC
Cash: 1.0%
Trades: sold ACY@19.00, sold NFI@13.13
Read:
Stocks Researched:
Hours spent on market: 0.5
Positions most worried about:
Positions most sanguine about: everything
Biggest market worries: Perhaps was the excessive volatility today but have an unquantifiable feeling that things are moving too fast. By things I guess I mean my positions as the general market has been relatively sedate.
Thinking about: trimming around the edges?
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: not very productive over the long weekend, getting a little worried about some deadlines
Previous night sleep and exercise: 6 hrs, soccer Friday
Mood: a little anxious. Studies? Market volatility?
