Wednesday, October 13, 2010

Updated Position (fire marshall head count needed)


It's a bull market in genius right now.

Bulls are in complete control, a "perfect-storm" script of a friendly Fed pushing inflation at their sprinting backs, giving gumption a new name.

Bears meanwhile, are essentially paper pulp.

I'm not far from neutral at the moment and I'm not especially active; not wanting to chase madness and not willing to get long laggards coming late to the party. I've pared-back or at least reduced most of my extended longs and I've been lucky-good with my short side of things lately; not getting killed on that end, FWIW.

AAPL is over $300 today and every trader should have one eye on this name now; today's closing price is important. If Apple can digest itself at 300 and carry on, there is no reason to complain (yet) the bull market party has become too crowded. If AAPL struggles with 300 however, I'm looking to exit (neutralize or shift net-short) - and get home in time to catch SNL.

In the meantime, being old and gumption-challenged as I've become, I'll just keep close to the exit and watch everyone else have all this fun.

Miners - 17 cheers and counting!
...enjoy the light

Follow Centrifugal to fade trades in real time

Total Position: Currently 1.10-to-1 net-long, 74% invested

Currently Long (according to size):
ULTA (re-increased yesterday, 7.3%); BMC (added yesterday, 6.1%); VPHM (5.3%); CXO (5.2%); LULU (5%); LTD (reduced yesterday, 5%); NANO (re-loaded yesterday, 4.8%); EWS-Singapore (sold today)

Currently Short: CVS (8%); DISH (7.3%); CRUS (7.1%); GMCR (re-loaded yesterday, 7%); ZMH (5.8%)

Futures: no current position

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