Friday, November 13, 2009

Update on Portfolio (shorts neutralized for now)


Something has changed and some things remain the same. I still don't like the larger picture, but I still must react.

Rather than stepping out of the short-side today and going hunting, I went ahead and picked up several leadership longs, looking for the potential pivot higher. So far so good.

I don't expect any terrific upside, but if I am surprised I would not like to be skewered in my shock. I'm making money at both ends this week, which is nice since I am the one skewering in that case; but I have no pretense for keeping perfect.

Bears can go back to grumbling. Bulls can go back to foaming. I'm just a working stooge trying to eat a worm now and then.

RINO (remains a beast) reported today. I'm foaming some over that one, but still no sign of a 2ndary date. I did trade into SWI today though, with the same outlined strategy. SWI management held 73% of the outstanding shares prior to today's offer; priced at 18.75 and will be benched there, on closing basis.

One note: yesterday aggressive accounts were really 10-to-1 net-short and not 2.5-to-1 as originally posted (I failed to update that part of the position) Some were confused why conservative accounts were twice as short as the aggressive. Today's allocation below now is accurate. It's not like you care, I know, but I have a couple of widows and orphans around here that really do give a damn.

Aggressive Accounts:
-Total Position: ~1.5-to-1 net-short, considering levered (2x's) TWM hedge
-57% invested overall
-Pure-longs = 27.5%
Currently Long: (according to size): HMIN (6.2%), SWI (5.3%), ASIA (5.3%),HRBN (4.6%), RINO (4.2%), CYD (2.2%)
Currently Short: (according to size):
-TWM-long (Russell 2k Dbl-short, 15.2%), WTW (4.9%), PEGA (4.9%), GS (4.7%), BUSE (covered today, 3.21)
(Note: inverse-ETF TWM represents being dbl-short the respective index).
Futures Accounts:
-20% Short Dec SPX, from 1090.25
-10% short Dec Euro: trading actively - presently short 10% from 1.4885 (updates coming via Twitter here)

Other Accounts:
-Total Position: ~1.33-to-1 net-long, considering levered (2x's) TWM hedge
-38% invested overall
-Pure-longs = 26%
Currently Long: (according to size):HMIN (6.2%), SWI (5.3%), ASIA (5.3%),HRBN (4.6%), RINO (4.2%), CYD (2.2%)
Currently Short: (according to size):
-TWM-long (Russell 2k Dbl-short, 11.3%)
(Note: inverse-ETF TWM represents being dbl-short the respective index).
Futures Accounts: NA

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