Wednesday, September 30, 2009
Quicknote for Tuesday
I re-read my post from Monday and I can't say I was impressed. On top of that it is late and I am not particularly inspired (which is good since ramping-up my manic salts right now would tax energy necessary for tomorrow).
I'll say this much - if the market trades to new recent lows tomorrow or Thursday then we should be in for some pretty wicked downside in the short term. I don't expect it and I'm far from positioned for it, but it is lingering now in the 3rd-car garage of my brainpan and my fight-or-flight nature is prepared to take-off running should that scenario develop.
Otherwise, I'll just keep increasing long-side exposure, gradually but purposefully, and according to the action at hand; my Deckchair list of live longs still in hand.
Easy game.
-Total Position: Aprox. 4.5-to-1 net-long, considering lower-beta UUP hedge
-57% invested overall
-Pure-longs = 45%
Currently Long (according to size): CTSH (8%), RKT (7.6%), SWM (5.4%), SXCI (5.2%), CFSG (3.5%), CLW (5%), TSRA (4.9%), ULTA (3.6%)
Currently Short (according to size):
-UUP-long (12.2%); current inverse correlation with equity markets defines this as an equity hedge
Futures Accounts: no position
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