Summary:
I lost 0.8% this week, ending my weekly winning streak at one. Its a tough market. Still, there was some good news. SNEN, which used to be SNEN.OB before effecting a reverse split and becoming SINE and is now SNEN again, got its NASDAQ listing and raised this quarter’s guidance. This a week after raising 2008 and 2009 annual guidance. Also NRF declared its regular .36 quarterly dividend. CMO reported solid results of .58/share, a decrease in leverage, and an increase in book value. XSI pre-announced revenue up 225% up to $13 million. Hopefully they are approaching the scale needed for the level of profitability they mentioned in previous conference calls.
I sold the NLY and MFA which was put to me last week, and trimmed some SGTI. I also sold some CMO on Monday and Thursday and bought back at better prices on Friday. I bought back my CNEH at slightly below what I sold it for. Finally I shorted WB on Thursday when financials began to tank again.
I find the good news about my positions encouraging, but as said before, this is a tough market and even good stocks are getting trounced. Perhaps time to raise more cash.
Positions:
Long: AHR AHR-C ALSWF ANH EPMWF GREXF MDNNF MEAOF MLKKF NRF QADMF RICK SFI SGTI SNEN XSI WHX
Short: GAP GCI KBH MEG MNI TOL WB.
Calls Long: ANH Jan 7.5; CMO Nov 12.5.
Calls Short: .
Puts Short: CMO Aug 12.5; NLY Oct 17.5, 16; NRF Sep 7.5.
Cash: 4.5%
Short Pct: 5.7%
Read:
Stocks Researched:
Positions most worried about: .
Positions most sanguine about:
Biggest market worries: another financial blowup.
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, 2.0; strong economy and has fallen alot, looks like turning around.
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.
Real life: getting more accomplished.
Weekly sleep and exercise: lots of soccer, some biking, and resumed boxing training. Sleep decent.
Mood: good
