Summary:
After getting pounded on Monday things turned around and I gained a bit over 3% for the week.
During the week I added more SNEN, ONAV and NRF, sold BQI and closed my KBH short. I also dumped MVO. NRF seems to be getting lumped with residential real estate, but they are in commercial real estate and yielding over 15%. They declared another dividend this week. It seems a screaming value. I sold MVO because it just doesn’t excite me and I needed to make room for NRF and SNEN in my IRA. I closed KBH out of skittishness. Probably a good medium-term short but not sure for right now.
The strong close Friday has given me a rosy outlook. Probably time to be careful.
Positions:
Long: HBMFF ALSWF FFHL XSI GREXF MLKKF QADMF BWLRF DRYS ONAV ERF HTE ANH ANH-A CHNG NRF QMAR PRGN GMO MDNNF CMO-A MMG SMNPF DEEP SNEN, BQI
Short: GCI HLS MNI TOL KBH MEG.
Options: long BQI Jan 2.5 call; short BQI Jan 5.0 call
Cash: 2.5%
Short Pct: 7.5%
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 and preparing for a sparring match with a friend of mine.
Weekly sleep and exercise: soccer, boxing. Been going out alot. sleep fitful, lots of naps.
Mood: calm
