Friday, June 13, 2008

Outsider Trading

Back to nature indeed.

I did end up blowing out the CSIQ and JASO longs the other day, on top of the already mentioned long-side reductions. And yesterday I stepped out of the TITN position on the up open (ave. 28.12).

As it turns out, I would have done better by holding everything, since the Financials short and the AMR both continue to implode more than any longs longs I've been playing.

Bah! No concerns here. I'm faring just fine on the sidelines. The dawn light begins about 3:30 in the morning here, in these longest days of June. Presently I'm fishing old boots and straight jackets out of the River Thames before boarding the New Hearts of Darkness, Inc. Voyage to the Unfelt Paradise; a cruise-tour of summer exploitation on anything animal and environment. I've reserved the Mustelidae suite, which allows the hunter to blast anything that moves, right from the comforts of his own cabin window. In addition we'll be provided strip-mining equipment so we can pan entire hillsides for gold, copper and various exotic rodentia.

I do try to dry out somewhere around this time every year, if the market will allow it. It's usually best in July, but the mixed, somewhat trendless action at the moment is signalling the time is right. The broad market uptrend we began in March has clearly stalled, but a there is nothing clear as far as downtrend yet. I will keep one eye open, in case the Financials break to dramatic lower-lows (I still assume the Financials will lead the charge if there is any significant downside to be seen here), but I will roost for a week or two if nothing much develops.

In the meantime I may or may not report from my Paradise Incorporated, but you can assume it will be ravaging. Blood lust is nearly insatiable when a trader cannot fire shots at the market instead.

Exposure Long (10.25%): TTES; TNH (listed according to size)
Exposure Short (0%)
Cash (89.75%): % of total accounts.

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