Summary:
Gained another 4.6% last week as financial such as NRF and CMO gained and my shorts performed well too.  I sold into strength dumping a bunch of NRF, and some NRF-B SGTI and SNEN.  I finally got out of the CFC-B for a small profit.  The poster’s convergence theory (to BAC-X as this is now a BAC obligation with the same yield as BAC-X) did not pan out.  I also shorted some LEN and added to ONAV.

Positions:
Long:  ALSWF AGNC CFC-B GREXF MDNNF MEAOF  ONAV NRF NRF-B SGTI SNEN WHX.
Short: CRM GAP GCI HOT LEN MEG TOL.
Calls Long: .
Calls Short: .
Puts Short: NRF Jan 5, Jun 5.
Cash: 34.3%
Short Pct: 21.4% (29.9% of margin acct) 
Read:

Stocks Researched:

Positions most worried about: SNEN – how hard will China slowdown hit and no guidance. 
Positions most sanguine about: 
Biggest market worries: the market .
Thinking about: 

Outlook ( up-flat-down surety rating: 1-5 reasoning):
US: flat, 1.0; .
Tech: ??
China: ??; economy softening more than expected
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. designing a new Facebook app
Weekly sleep and exercise: injured again; playing soccer but not much else.
Mood: decent.