Summary:
Up 0.7% today. A large part of that was due to a newsless 10% rise in MLKKF and general metal strength. On the downside XSI dropped 3%.
I was in a buying mood today, adding back OCNF, buying more TRA, and starting a position in ESEA. The latter is another dry bulk shipping company which reported good earnings yesterday.
Rising tanker prices have convinced me my knife-wielding last Thursday was a mistake. The market’s sanguine reaction to the Shanghai drop the other day has further convinced me that smooth sailing is ahead. I guess a serious down day in the US might change my outlook quickly. I’ve been pretty twitchy over the last year and find myself selling on the dips rather than buying. This has held down returns, but I guess when the “big one” comes I’ll sustain less damage — provided that by then my behavior hasn’t reversed. I may be getting nearer a buy the dips stance, though I hope I’m able to tell when to rein it in again.
Positions:
Long: JEQ AUY SLW NTO NXG HBMFF ALSWF JAGNF FFHL AOB XSI NTLRF NLY MDN.TO ETEL GREXF MLKKF SEA TRA QADMF NM OCNF OCNF ESEA
Short: LEN GCI HBI HLS MNI AMZN YHOO
Options:
Cash: 19.3%
Short Pct: 14.7%
Trades: Bought OCNF@20.82, ESEA@13.20, TRA@20.05
Read:
Stocks Researched:
Hours spent on market: 0.5
Positions most worried about: FFHL, reporting seems suspicious. Metals, continue to drop. How close are we to a bottom?
Positions most sanguine about:
Biggest market worries:
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, 1.0. Shanghai stock drop on 5/25.
Zinc: up, 2.0. Declining stocks.
Real life: Busy with studies. Finishing up quarter.
Previous night sleep and exercise: 6.0 hrs; soccer Friday.
Mood: Calm.
