Summary:
Ended down -0.6% today. FFHL rose another 8.5% today to make it almost 40% in the last 3 days. They reported that the exterior of their new factory had been completed and expected production in April 2008. Not sure this is overwhelming news but I added a little (before the news) as is seems to be recovering. Probably should have waited for a pullback though. XSI dragged the portfolio down today dropping 6%. Wasn’t entirely unexpected. Volume was tiny once again.
Shorts continue to do well. Perhaps an ominous sign for the general market.
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: 14.5%
Trades: Added FFHL@8.08.
Read:
Stocks Researched:
Hours spent on market: 1.0
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.
