Summary:
Down slightly (0.2%) today. Miners were mixed and Japan down. TNH recovered a bit from its four day slide. FFHL jumped 9% on an upgrade from a little known firm called Maxim Group. I don’t give this much weight. Earnings please.
I finally had time to do some research. I was trawling past big daily percentage mover lists to see if anything interesting turned up. I particularly look for 1) beaten down stocks with large percentage increases as turnaround candidates, and 2) hi-fliers with big drops as short candidates. While those are the premises, sometimes good buy prospects show up on the losers list and vice versa. XSI and ACY are a couple of stock I found on these lists. This time around I didn’t find anything complelling, but present my notes for a couple of stocks I looked at. See the Stocks Researched section below.
Positions:
Long: JEQ JSC LMC AUY SLW NTO NXG HBMFF ALSWF JAGNF FFHL EGLE AOB XSI KF UAHC NTLRF TNH LMGGF NM NLY MDN.TO
Short: BKC
Options: AUY May 15 call
Cash: 11.9%
Trades: none
Read:
Market falls as Bernanke cites growth prospects. Which means probably no rate cuts soon.
Stocks Researched:
AIQ: on the 3/19 gainer list. Another private equity (KKR) release. Fairly valued on earnings measure, but oh that debt load.
ROFO: a maker of audio equipment for home, cars, boats etc. The chart shows a nice turnaroundish type pattern, but with all the MP3 players out there, you have to wonder if this is a buggy-whip maker. Negative earnings and falling sales don’t inspire confidence.
Hours spent on market: 5.0
Positions most worried about:
Positions most sanguine about: ??
Biggest market worries: downturn
Thinking about: ?
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: ??
Tech: ??
Japan: up, 1.0; strong GDP, but weak international markets
China: ??
Silver: ??
Gold: ??
Copper: ??
Zinc: ??
Real life: Recovering from sickness.
Previous night sleep and exercise: 7 hrs. Got some Guiatuss (with guafenesin and codein) for night and taking Mucinex in the day. Helped me sleep but feeling lethargic today. Not sure if this is from the irregular sleep or the codein. No exercise yesterday.
Mood: Recovering from my cold. Calm.
