Summary:
Finally some solace. Had my first positive week in November: a 4% gain (almost exactly what I lost last week). Most everything except miners were up. Returns were held down a little by the recovery in financials and housing stocks on Thursday and Friday (as I am short).
I added a little GA (like the fundies and valuation despite the earnings miss), SNEN, NRF, and FFHL. This last is very speculative but at least they’ve added outside directors and retained a new accounting firm, which allows them to keep their Nasdaq listing. If they can grow their business, the valuation is extremely good. I opened new positions in DHT on a poster rec, rising tanker rates and a 10+% yield
outlook is little changed from last week. Well maybe Friday gave it a tinge more optimism, but basically I think were in for more trouble though I like my positions and will collect dividends until things sort themselves out.
Positions:
Long: ALSWF ANH ANH-A BWLRF CMO-A DEEP DRYS FFHL GA GREXF MDNNF MLKKF MMG NRF ONAV QADMF QMAR SNEN XSI NFIYF
Short: GCI KBH MEG MNI TOL XLF MBI WM.
Options: long BQI Jan 2.5 call; short BQI Jan 5.0 call
Cash: 18.6%
Short Pct: 15.1%
Read:
Stocks Researched:
Positions most worried about: XSI.
Positions most sanguine about:
Biggest market worries: credit induced market downturn
Thinking about:
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: flat-down, 2.0; credit woes.
Tech: ??
Japan: not invested – don’t care anymore.
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: flat-down, 2.0. China, but stocks rising.
Zinc: flat, 2.0. Stocks stabilizing.
Real life: progressing on website project and trying to do some economics as well.
Weekly sleep and exercise: soccer, biking, boxing. sleep decent.
Mood: calm, good
