Summary:
Gained about 0.5% this week, the third straight week of low volatiliy. ALSWF fell again, but SNEN and miners QADMF and MLKKF made up for this. ACY, which I have kept only a token amount, fell again, as I felt it should. I no longer regret selling, only that I missed the dead cat bounce to do it on.
Not many trades this week. On the one hand I’m constrained by low cash levels. Most of the 5% I have seems to be covering the naked puts I sold. Also I think low volatility has damped my excitement a little. I did add some SNEN and CMO, sold most of my remaining ACY and an open AHR sell order got hit.
Perhaps because I’ve been busy with other projects, my investment outlook is simply expecting more of the same — low volatility. We’ll see.
Positions:
Long: ACY AHR ALSWF ANH CHNG EPMWF GA GREXF MDNNF MEAOF MLKKF MMG NLY NRF QADMF SGTI SNEN XSI.
Short: GCI KBH MEG MNI TOL.
Options Long:
Calls Short: NRF Jun 12.5.
Puts Short: AHR May 5; ANH Jul 10; CMO Jun 12.5, Aug 12.5; MFA Jul 10; NLY Jul 20, Oct 17.5 NRF Jun 7.5, Oct 7.5.
Cash: 4.9%
Short Pct: 9.7%
Read:
Stocks Researched:
Positions most worried about: ALSWF – results seem fine, stock price sucks.
Positions most sanguine about:
Biggest market worries: not feeling worried even though there’s probably more unexpected financial writedowns out there.
Thinking about: adding agency mortgage REITs
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: flat-down, 2.0; still not out of the soup.
Tech: ??
China: up, 3.0; strong economy and has fallen alot.
Silver: flat s/t, 2.0, price action; l/t up, 1.0, industrial demand, but price rises.
Gold: who knows? has risen alot.
Copper: flat-up, 2.0. China demand.
Zinc: flat, 2.0. Stocks stabilizing.
Real life: again pretty productive week but must step up even more on website .
Weekly sleep and exercise: biking to school and soccer on Sunday. Sleep ok but need more.
Mood: good
