Monday, June 09, 2008

Reductive

I am indeed cutting back exposure today - and preparing to paddle-out for more fun and healthy (ha!) activity in the near term.

The game-plan here was/is to capture profits and get back to nature while the current market defines itself. There is no terrific reason to be very aggressive in an early-summer market which is showing mixed, divergent action. I'm taking profits and hunting for an exotic vacation package instead).

-Sold SKF early at 122.90
-Covered AMR at 7.075 ave.
-Reduced TNH by 50% at 150.25
-Trimmed TITN slightly at 25.50

CSIQ and JASO are stabilizing after some early weakness, but I will let those go today if they cannot continue to improve. I will sell them anyway if the market gets much uglier (now that I have no hedge).

I will try to hold onto the TITN, TTES and remaining TNH near-term and hopefully longer, but again I am going to keep a short leash on everything until a clearer trend in the market develops.

Exposure Long (39.5%): TITN; CSIQ; TNH; TTES; JASO (listed according to size)
Exposure Short (now 0%)
Cash (60.5%): % of total accounts.

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