Two former holdings of mine, AUY and NTO announced they will merge. AUY will do the paying and its stock tanked 9%. NTO meanwhile rose 5% but is still below the offer price. It was up less than 4% for most of the day and the favorable odds probably should have been taken advantage of.
Sell orders I had on ETEL and AOB got hit today. AOB was a regret trade – I did it because I regretted not having bought it earlier. I should have got out much sooner, but I didn’t, so now I regret it even more but at least the infatuation is gone and luckily I didn’t commit much capital. I may buy back ETEL. I have to revisit the fundamentals.
Long: JEQ NXG HBMFF ALSWF FFHL XSI NTLRF EXDUF GREXF MLKKF QADMF SHERF OKOFF.
Short: LEN GCI HBI HLS MNI AMZN YHOO TOL.
Short Pct: 19.1%
Trades: Sold AOB@9.00, ETEL@15.80
Hours spent on market: 1.0
Positions most worried about: FFHL, reporting seems suspicious. XSI, can’t get in touch w/ management. 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
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-up, 1.0. Strikes on the horizon.
Zinc: up, 2.0. Declining stocks.
Real life: Working on summer schedule.
Previous night sleep and exercise: 7.0 hrs; light biking Tues. Arm still bruised.