Monday, February 22, 2010

Updated Position (further net-long)

While we're not banging-higher on the first day of the week (something notable, since the first trading days have been strong-only for several months), we're more or less stable still; holding gains from the recent bounce.

Unless and until half-full fools begin to empty, I'm adhering to the adage of not selling into a dull market.

I've added further long today, but am so far holding onto hedges. I did close-out MMR-long for now - energy names are weak today in spite of the SII merger (weak nat. gas not helping) and MMR has a potentially ominous rr-track formation (zzzzz) on the daily chart; will look to re-visit MMR should it survive all of that. Finally, TIE is expected to report after the close today; it is acting well so far and I'm looking to hold for eps unless it stalls, reverses and/or fails today.

Total Position
: ~1.36-to-1 net-long, 73% invested

Currently Long (according to size): TM (7.8%); NTGR (7.3%); BEAV (7%); SIRO (6.3%); NETL (added today, 5%); RVBD (added today, 4.3%); TIE (reports after the close, 4.2%); CISG (2.9%)

Currently Short: TWM-long (Russell 2k Dbl-short, 9%); MS (8%); JPM (6.5%); CSX (5.2%)

Futures Accounts: no current position

Twittspitt for details

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