Summary:
Gained 1.3% and feeling alot more sanguine. XSI continued to be the big upside mover with a little help from SNEN. Most other categories were flat or mixed.
I was in a buying mood this week, adding to NRF, CNEH, AND SNEN and selling Oct 7.5 NRF puts. I like the prospects of all of these and felt confident to go after what I think are bargain prices. We’ll see if I’m right. I trimmed XSI a tad on the runup.
I am once again optimistic, but am not looking for any huge moves. I will be trimming a bunch of things on strength.
Positions:
Long: AHR AHR-C ALSWF ANH EPMWF GREXF MDNNF MEAOF MLKKF NRF QADMF RICK SGTI SNEN XSI WHX
Short: GAP GCI MEG MNI.
Calls Long: ANH Jan 7.5; CMO Nov 12.5.
Calls Short: .
Puts Short: NLY Oct 17.5, 16; NRF Sep 7.5, Oct 7.5.
Cash: 1.4%
Short Pct: 3.5%
Read:
Stocks Researched:
Positions most worried about: AHR, but do have Blackrock backing.
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: Somewhat productive. Too much market watching.
Weekly sleep and exercise: got in a fair amount of exercise though was busy with other things. Sleep ok.
Mood: decent
