Summary:
Up 0.7% today. With the Toronto market closed, much of the gain came from tanker companies. AMZN continues to levitate, rising 5%. I’m glad I kept my short exposure small. I expect the momentum to continue. I should probably cover and agree with my future self to re-short in a week or a month, but its hard to get your future self to respect his commitments. I’m holding for now and may add to the short later, but for a bigger reason more than it keeps getting more overvalued.
I have also began to look at advertising stocks as short candidates. Like newspapers, these are companies which may not necessarily adapt well to the digital age. IPG looks compelling: falling sales, low cash flow and negative net worth. Will probably take a position soon.
Positions:
Long: JEQ AUY SLW NTO NXG HBMFF ALSWF JAGNF FFHL EGLE AOB XSI NTLRF NLY MDN.TO DSX ONAV ETEL GREXF MLKKF SEA OCNF TBSI TRA
Short: LEN GCI HBI HLS MNI AMZN
Options:
Cash: 15.2%
Short Pct: 14.0%
Trades:
Read:
Stocks Researched: IPG (see above)
Hours spent on market: 2.5
Positions most worried about: FFHL, reporting seems suspicious. Metals, due for a drop.
Positions most sanguine about:
Biggest market worries: metal meltdown.
Thinking about: shorting more. Adding MLKKF, EDVMF, ROY.
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: ??; price action, but getting bubbly.
Silver: flat-down s/t, 2.0, price action; l/t up, 1.0, industrial demand.
Gold: flat-down s/t, 2.0, price action; l/t up, 1.0, industrial demand, GFMS study.
Copper: flat/down, 2.0. Stabilizing stocks.
Zinc: up, 2.0. Declining stocks.
Real life: Busy with studies.
Previous night sleep and exercise: 5.0 hrs; short mi bike ride Sunday.
Mood: Calm.
