Thursday, April 23, 2009
Snarky Action (sidelined and dangerous)
The action remains murky from what I see and my position has shrunk now to the point I can mail-it-in for the time being.
My longs stopped working and consequently they are nearly entirely gone. At the same time I am not yet seeing any great set-up here to attack short.
There are a lot of smart minds getting short (again!) and I wont chide them since the long-side this week stopped being such a candy-grab - but at the same time I find everything too mixed and trendless at present. If this is the next great bear set-up then text me when the riches start pouring-in - I'll leave my dumpy dental paradise (below) and come late to the better party.
You guys can make all the money for now.
Being sidelined then, I've packed teeth and brush and I'm leaving shortly (fat-ly as well). I'm embarking on the latest, greatest luxury getaway since the extinction of the Sabertooth. This jaunt's the deeply-discounted Destiny of Doom Dreamaway. They're giving me the special AAA-approved dentist-in-training rate due to poor recent demand - ha! For 3-days and 6-nights I'm allowed to spear anything that moves - I intend to get my fool money's worth.
If I can't kill the market I've got to rip at something. You don't drink this much coffee and just go home to roost.
I'll stand by until something better sets-up.
Total Position: 1.39-to-1, 16% invested
Currently Long (according to size): WNR (4%; will not hold <12.12), CYOU (2.7%; will not hold <23.90,>26.40)
Currently Short (according to size): STRA (9.3%); under the 50-day for STRA looks good (currently 174.34); mammoth HS pattern on wkly-chart.