Monday, October 26, 2009

Update on Portfolio (smaller, shorter)


I'm going to be further distracted, possibly the rest of the week, and as such may not keep up a steady flow of commentary on the present action. Quite unusual I know ;)

Next week is going to be unique as well, as I'm expecting to leave Saturday for a week in Beijing. As long as I don't sleep, I won't miss much of the market next week in China.

And speaking of China, most leadership stocks (a large portion of which are Chinese companies traded on the US exchanges these days) traded ugly today; worse than the major indexes. If this becomes anything like a trend I will either take a break to the sidelines, or else get short, depending; I did get quite a bit smaller already today.

Given my travel plans, the sidelines may make more sense than shorting, but I'm not going to miss anything uber-ugly on the account of sleep. We'll see what sort of gravity develops.

The catalyst which (rudely) reversed and roiled equities today was an explosive rally in the Dollar; naturally. I'm not sure how I didn't make money on that but it was in no way Trish Regan's fault. Credit to Trish is well deserved for ringing the bell at the Dollar's low.

I could say something cynical and mean (again!) I suppose, but I'm too much in awe of her to spoil it. Genius deserves better.

-Total Position: ~1.8-to-1 net-short, considering levered TWM and SRS hedges
-44% invested
overall
-Pure-longs = 23%


Currently Long (according to size): HMIN (increased today, 6.8%), CRIC (5.3%), DGW (reloaded today,5.1%), WATG (5.1%),

Currently Short (according to size):
-TWM-long (Russell 2k Dbl-short, 16%)
-SRS-long (US Real Estate Dbl-short, reduced today, 5.7%)
(Note: inverse-ETFs TWM and SRS represent being dbl-short their respective index).

Futures Accounts: no current position

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