Summary:
Finished the quarter with a 5% weekly gain and hit a new high for the year. All my buys during the August troubles are turning out well. Pretty much everything was up, from ALSWF (up 10%), to dry bulkers, miners and oil stocks. The pct star of the week, though, was CHNG, up about 70%. The big move was on Thursday when it announced the government had approved a big natural gas project for them. Apparently speculation had been it wouldn’t be approved. I just liked the company for its valuation and was unaware of these issues, but got lucky.
Only two trades this week as I was working on a paper and then preparing for the MS ride up in San Francisco. An FFHL sell order got hit at 10.38 and I added some GREXF on a poster reiteration.
Positions:
Long: HBMFF ALSWF FFHL XSI EXDUF GREXF MLKKF QADMF BWLRF DRYS DSX ONAV ERF HTE ANH ANH-A CHNG PRGN GMO QMAR CMO-A MMG SMNPF
Short: GCI HLS MNI LEN.
Options:
Cash: 8.4%
Short Pct: 5.4%
Read:
Stocks Researched:
Positions most worried about: fairly sanguine despite the carnage. World economy remains strong as do natural resource prices and tanker rates.
Positions most sanguine about:
Biggest market worries: what me worry?
Thinking about:
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: flat-up, 2.0; bailed by the Fed.
Tech: ??
Japan: flat-down, 1.0; political wobbles and subprime resonance.
China: up, 2.0; strong economy.
Silver: flat s/t, 2.0, price action; l/t up, 1.0, industrial demand.
Gold: up s/t, 2.0, price action; l/t up, 1.0, industrial demand, GFMS study, US$ weakness.
Copper: flat-up, 1.0. Strikes on the horizon.
Zinc: up, 2.0. Declining stocks.
Real life: finished social networks paper and spent Thurs and Fri preparing and driving up to SF for MS ride.
Weekly sleep and exercise: soccer, biking, etc. Been going out alot. sleep fitful, lots of naps.
Mood: calm.
