Summary:
See-saw week ended with a 1.22% gain today, almost recovering what I lost yesterday. Most everything was up, with SLW gaining 6%. You may remember I sold some yesterday out of caution. Didn’t work out, but I think it was the prudent thing to do in view of falling silver prices. These rebounded somewhat today as the Chinese equity markets stayed firm last night.
I added more XSI and took a position in Star Maritime (SEA). This company IPO’ed a while back as a blank-check company looking to acquire a dry bulk fleet. It has now done this and will be paying a double-digit dividend. It got a strong rec from a poster I respect very much.
Positions:
Long: JEQ JSC AUY SLW NTO NXG HBMFF ALSWF JAGNF FFHL EGLE AOB XSI UAHC NTLRF TNH NM NLY MDN.TO DSX ONAV ETEL GREXF MLKKF SEA
Short: BKC LEN GCI HBI HLS
Options: AUY May 15 call
Cash: 5.1%
Short Pct: 7.2%
Trades: Bought SEA@10.81, added XSI@1.76
Read:
Stocks Researched:
Hours spent on market: 0.5
Positions most worried about: FFHL. Reporting seems suspicious.
Positions most sanguine about: Japan, good economic data continues. XSI, good talk with the CEO. Miners.
Biggest market worries: economic softness in the US
Thinking about: shorting more. adding XSI, MLKKF.
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: flat, 2.0;
Tech: ??
Japan: up, 2.0; strong GDP, but weak international markets
China: up, 1.0; price action
Silver: up, 1.0
Gold: up, 2.0; GFMS study
Copper: ??
Zinc: ??
Real life: Sister in town so doing family things in addition to studies.
Previous night sleep and exercise: 7 hrs; 30 min on exercise bike Tues.
Mood: Good.
