Summary:
Got pounded for a 4.1% loss this week. Most of my major position fell, with copper producers MLKKF and QADMF leading the way. I have cut my holding of the former, but apparently not by enough. I still like the latter as a growth company, but should have done the cut and buy back. Maybe I still should.
Trades this week included completing a swing trade of RICK. I sold most of the shares I bought in the low 13s at 14.30, but retained a portion. This is to be a new strategy for me. I also sold some XSI as it has gotten run up. Finally I re-shorted some TOL on Friday.
The takeover of FNM/FRE should do wonders for my financial holdings on Monday. For the rest of the week who knows? Still lots of volatility ahead.
Positions:
Long: AHR AHR-C ALSWF ANH EPMWF GREXF MDNNF MEAOF MLKKF NRF QADMF RICK SGTI SNEN XSI WHX
Short: GAP GCI MEG MNI TOL.
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: 2.5%
Short Pct: 5.0%
Read:
Stocks Researched:
Positions most worried about: MLKKF, QADMF: if copped doesn’t stabilize, these could tank further.
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 — presented to the SD Ruby group about my application. Markets very distracting.
Weekly sleep and exercise: got in a fair amount of exercise though was busy with other things. Sleep ok.
Mood: decent
