Tuesday, September 01, 2009

Update on Portfolio (further in both directions)

I did add to new-leadership in the second half of the session, but I increased my SRS-hedge at the same time. I'm similarly hedged then, as far as weightings, but now hold a larger position underneath (trade-fills are on Twitter feed on right).

If we crush further tomorrow, I'm going to be exposed some, unless I can finagle a larger hedge at an opportune time (I'll be up early tomorrow, looking at sales tags around the world). But at the same time with one simple cover I can be fully long and sufficiently large; by unloading SRS. Being able to position immediately fully long would be advantageous in the very small chance the market doesn't continue straight down here and make so many professionals so brilliant for saying so.

Today was not watershed in terms of Advances vs. Declines, Up/Down ratios, and certainly not in the number of new 52-week lows. But volume was significant on the negative reversal.

Total Position: plays roughly 2-to-1 net-long (considering levered SRS); 55% invested

Currently Long (according to size): CTSH (7.4%), RJI (6.3%), CLW (5.2%), CYOU (5.1%), GNW (5.1%), CORE (5.1%), SWM (5%), MRVL (4.4%)

Currently Short (according to size): SRS-long (US Real Est. Dbl-short; (11.9% position)
(Note: inverse-ETF SRS represents being dbl-short the respective index)

Futures Accounts: no position

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