Summary:
Up 1.6% today. Much of this due to my large position in ALSWF, but most everything did well on a day the Dow broke 13,000 for the first time. Fueling the rally: M&A, good earnings, and a good durable goods number.
Shippers of all varieties continue to be among my top performers. I added another Oceanfreight(OCNF), which IPO’ed today at 19. They are anticipating an initial dividend of .50 which would give then a 10+% yield.
Other trades included adding more MLKKF and selling more TNH and JEQ. I sold the former because it looks fairly valued compared to other options after its run-up. The latter I sold because I’m losing patience with its leisurely ascent – i.e. I think it will go up, but there are other issues which seem to have more juice. Japan is still 20% of my portfolio, but I will probably continue to reduce from here.
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 OCNF
Short: BKC LEN GCI HBI HLS MNI
Options: AUY May 15 call
Cash: 8.1%
Short Pct: 10.4%
Trades: Bought OCNF@18.93, added MLKKF@5.30. Reduced TNH@69.87, JEQ@8.73,8.74.
Read:
Stocks Researched:
Hours spent on market: 1.5
Positions most worried about: FFHL, reporting seems suspicious.
Positions most sanguine about: 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, 1.0; 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; exercise bike Monday.
Mood: Good.
