Summary:
Should have taken last week’s warning and lightened up. Didn’t and got pounded for 9% drop. This has to stop somewhere but where.
For the week I swapped out of NRF to NRF-B and from most of my AHR to AHR-C. Both of the preferreds, despite being higher in the capital structure, were yielding more than the common. No brainer.
Tough times ahead.
Positions:
Long: AHR AHR-C ALSWF ANH EPMWF GREXF MDNNF MEAOF MLKKF NRF-B QADMF RICK SGTI SNEN XSI WHX
Short: GAP GCI MEG MNI TOL.
Calls Long: CMO Nov 12.5.
Calls Short: .
Puts Short: NLY Oct 17.5, 16; NRF Oct 7.5, Dec 7.5.
Cash: ??%
Short Pct: ??%
Read:
Stocks Researched:
Positions most worried about: MLKKF, QADMF: though copper may be stabilizing.
Positions most sanguine about:
Biggest market worries: more LEH.
Thinking about:
Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: down, 2.0; still not out of the soup.
Tech: ??
China: ??; strong economy and has fallen alot, but not good markets
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: fairly productive.
Weekly sleep and exercise: less boxing as having arm pain, some soccer. Sleep ok.
Mood:decent
