Summary:
Up 0.1% on a day when miners mainly fell and nothing did anything too crazy. Added still more XSI. If prices stay down I will probably go above my 10% of portfolio target then sell off those shares when the stock moves up (assuming it moves up).
I trimmed a little SLW hoping to buy this back cheaper and got rid of UAHC, something I have been trying to seel for a while.
Finally, I opened a short in McClatchy Company (MNI), another newspaper company. I should have done this earlier when I was looking at other newspapers. The thing that through me off was a big increase in sales last year, but this was in fact due to their acquisition of Knight-Ridder. MNI has negative net tangible assets and just released earnings below expectations.
Positions:
Long: JEQ JSC AUY SLW NTO NXG HBMFF ALSWF JAGNF FFHL EGLE AOB XSI NTLRF TNH NM NLY MDN.TO DSX ONAV ETEL GREXF MLKKF SEA
Short: BKC LEN GCI HBI HLS MNI
Options: AUY May 15 call
Cash: 5.6%
Short Pct: 10.5%
Trades: Added XSI@1.70,1.74. Reduced SLW@11.26. Sold UAHC@4.31. Shorted MNI@30.36
Read:
Stocks Researched:
Hours spent on market: 1.0
Positions most worried about: FFHL: reporting seems suspicious. Miners: due for short-term pullback?
Positions most sanguine about: Japan, good economic data continues. XSI, good talk with the CEO.
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: Busy with studies.
Previous night sleep and exercise: 5.5 hrs; light exercise yesterday.
Mood: Good.
