Summary:
Wow what a month October is turning out to be. Was up another 8% this week, a percentage gain superceded only by the recovery week in late week when the market decided the world wasn’t really going to end. CHNG was the real star rising 40%, but XSI, ALSWF, and DRYS all had monster weeks and miners were up as well. The continued appreciation of the Canadian dollar helped as well. My only blemish was a small loss on Thursday, when the markets opened strong but tanked in the afternoon, causing me a mini-panic. It is my only down trading day for the month.
I opened two new positions this week. One is DEEP, a deep-sea water oil services company, and SNEN, another Chinese compressed natural gas company. Both of these were poster recommendations. I am particularly excited about SNEN, which is a distant cousing to CHNG and has some pretty heady growth prospects. I think this could be huge once in gets discovered.
Other trades included swapping some ERF for MVO as American royalty trusts seem safer while the Albertan tax proposals get hashed out. I also dumped my DSX and lightened up on HTE, MLKKF, QADMF, QMAR and DRYS. This was all done on Thursday when the afternoon reversal had me wondering about a sell-off. I was prepared to sell on Friday, but when things headed up again I held off.
I remain sanguine about the direction of my positions though this rate of growth can’t continue for too long.
Positions:
Long: HBMFF ALSWF FFHL XSI EXDUF GREXF MLKKF QADMF BWLRF DRYS ONAV ERF HTE ANH ANH-A CHNG PRGN GMO MDNNF QMAR CMO-A MMG SMNPF DEEP SNEN
Short: GCI HLS MNI.
Options:
Cash: 13.4%
Short Pct: 4.4%
Read:
Stocks Researched:
Positions most worried about: nothing really.
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, 3.0; strong economy.
Silver: up 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: up, 2.0. China.
Zinc: up, 2.0. Declining stocks.
Real life: trying to work on the website project but the market has been very distracting. must find a Halloween costume.
Weekly sleep and exercise: soccer, biking, etc. Been going out alot. sleep fitful, lots of naps.
Mood: calm.
