Summary:
Another week, another -3%. This has been a very tough market psychologically. Every time break even has appeared close, it slips away. Ideas which seem good to me aren’t working. Stick to the guns or bail? I have been thinking about lightening up on positions like ALSWF and SNEN, but would like to do so at slightly better prices. I hope I have the opportunity.
Trades this week included starting a position in FDG, a poster-recommended Canadian coal producer who has seen earning and dividends jump with coal prices. I lightened ANH a bit and sold short some GAP, which is A&P and Gap clothing. Same story as the newspaper shorts here: falling revenues, profits and huge debt. Finally I was assigned some CMO, LEN and KBH shares from puts I sold. The latter two are covered by short positions.
Where the market? Who knows. In survival mode.
Positions:
Long: ACY AHR ALSWF ANH CHNG CNEH EPMWF FDG, GA GREXF MDNNF MEAOF MLKKF NLY NRF QADMF RICK SFI SGTI SNEN XSI WHX
Short: GAP GCI KBH MEG MNI TOL.
Calls Long: ANH Jan 7.5; CMO Nov 12.5.
Calls Short: .
Puts Short: ANH Jul 10; CMO Jun 12.5, Jul 12.5, Aug 12.5; KBH July 15; MFA Jul 10; NLY Jul 20, Oct 17.5; Oct 7.5.
Cash: 5.5%
Short Pct: 10.0%
Read:
Stocks Researched:
Positions most worried about: .
Positions most sanguine about:
Biggest market worries: rate rise risk to amREITS.
Thinking about:
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: summer getting busier as must I.
Weekly sleep and exercise: lots of soccer and biking. Sleep decent.
Mood: good
