Summary:
The Chinese began the Olympics on 8/8 because ba-ba (eight-eight) is good luck. Such luck did not extend to my portfolio, which got pounded for almost 5%, wiping out the gains of the last three weeks. Pretty much everything dropped. The sector which has me most concerned are my mining stocks, which have been falling heavily with metals prices. Are we at the end of the secular bull in oil and metals. I suspect not yet, but will cut back on strength.
I closed my out the last of my TOL and reduced my KBH shorts and sold a little MLKKF. I also added a little RICK.
A bunch of people on the investment board I’m on have been going all or mostly cash. I’m near 100%. I’m wondering if I should just unload most everything. On the other hand when I look at my positions, I want to keep them. Maybe an across-the-board lightening.
Positions:
Long: AHR AHR-C ALSWF ANH EPMWF GREXF MDNNF MEAOF MLKKF NRF QADMF RICK SGTI SNEN XSI WHX
Short: GAP GCI KBH MEG MNI.
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: 1.1%
Short Pct: 4.1%
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.
Silver: flat s/t, 2.0, price action; l/t up, 1.0, industrial demand, but price rises.
Gold: who knows?
Copper: flat-down, 2.0. US demand falling.
Real life: getting more accomplished.
Weekly sleep and exercise: lots of soccer and resumed boxing training. Sleep decent.
Mood: decent
