Summary:
I was up something like 1.0% today. I say something like because Fidelity’s reporting of daily gains for pink sheets foreign stocks like ALSWF leaves alot to be desired. I assume it all works out in the end but not on a daily basis. Another suspect element of the number is that XSI jumped .10 on 100 shares late in the day. Without this the gain would have been much smaller. Besides this I made most of my money on my shorts. I’m sniffing around for things to buy but have been busy with other things. One thing I’m looking at is Denison Mines (DNN) , a uranium miner. Uranium prices have been going ballistic recently and these guys actually have sales.
Positions:
Long: JEQ NXG HBMFF ALSWF JAGNF FFHL AOB XSI NTLRF EXDUF ETEL GREXF MLKKF TRA QADMF SHERF OKOFF.
Short: LEN GCI HBI HLS MNI AMZN YHOO TOL.
Options:
Cash: 28.4%
Short Pct: 14.6%
Trades: None.
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: rate rise induced meltdown
Thinking about: shorting more.
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: down, 2.0; rates are rising
Tech: ??
Japan: down, 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: Working on summer schedule. Had a fun weekend.
Previous night sleep and exercise: 5.0 hrs; walked around the San Diego zoo Sunday – hope that counts.
Mood: good generally. a little impatient marketwise.
