Summary:
Got pounded down almost 3% today. AMZN exploded upward 24% on earnings news. I could have closed this when the news came out after hours and should have. Oh well. Though the loss was large, other positions, including ALSWF, did even worse.
My open order for MMG got hit today.
Positions:
Long: JEQ NXG HBMFF ALSWF FFHL XSI NTLRF EXDUF GREXF MLKKF QADMF SHERF OKOFF OCNF ESEA MVO BWLRF SEA.
Short: GCI HBI HLS MNI AMZN YHOO BSC LEN TOL.
Options:
Cash: 25.9%
Short Pct: 17.3%
Trades: bought MMG@3.60.
Read:
Stocks Researched:
Hours spent on market: 1.0
Positions most worried about: XSI, can’t get in touch w/ management.
Positions most sanguine about: ALSWF
Biggest market worries: rate rise induced meltdown
Thinking about:
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: down, 2.0; rates are rising, Bear Stearn and subprime getting worse.
Tech: ??
Japan: flat-down, 1.0; political wobbles and subprime resonance.
China: flat-down, 1.0; bubbly and subprime spread.
Silver: flat s/t, 2.0, price action; l/t up, 1.0, industrial demand.
Gold: flat 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, but busy w/ a special project.
Previous night sleep and exercise: 7.0 hrs; light biking Tuesday.
Mood: calm.
