Dec

17

Sold bulk of my position in CEUA

December 17, 2007 | Leave a Comment

This morning I sold 98% of my position in CEUA at $6.30. Having glanced at the SEC filings this morning before the open, I noticed that, not surprisingly, CEUA decided to become the next in line to do a secondary offering sale by insiders. Insiders are selling a sum of shares equal to about 12% of the shares outstanding, which certainly has the potential to drag down the stock price. While I continue to like the business […]

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Dec

12

Less long and more short

December 12, 2007 | 1 Comment

I used today’s Fed debacle to lighten up my long positions and increase my short positions further. Here’s a summary of my trades.

Sells

EMC $17.50 calls at a premium of $2.65

CEUA.OB–Sold another 20% at $5.62

Buys

SDS–bought a small position at $52.75

USO–doubled my short at $74.07

My decision to fade the rally was a pretty easy one, because the Fed just completely eroded the confidence of the markets with today’s pandering action. Jim Cramer said it best when he noted that the […]

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Dec

11

Taking profits and getting short

December 11, 2007 | 1 Comment

This afternoon I decided to put on my selling shoes and exit a number of my long positions. In addition, I got short in a hurry as we broke through the 1490 level on the S&P. In the past few days, I have continually noted that while the market was rising and things were looking decent, we had yet to see volume return to the market on the up days. That negative divergence was the key piece […]

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Dec

7

Adding to VGZ and CEUA

December 7, 2007 | Leave a Comment

Today I decided to add to positions in both VGZ and CEUA. I doubled my position in VGZ (which is still small) at $4.85, bringing my basis down to $5. I also added to my position in CEUA by 15% at $5.50. I now have a solid position in CEUA, and I am very encouraged by the stock hitting another 52 week high. If volume ever starts to come into this stock, we are going to […]

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Dec

6

Major changes to the portfolio

December 6, 2007 | 2 Comments

I made some major changes to the portfolio today, so I’m just going to go down the list.

Sold:

CGLD.OB–I sold my entire position over the last two days at an average price of 72 cents. I had been bullish on the stock up to now, but the company’s December 3rd filing with the SEC for a sale of 58 million shares (mostly from insiders and large holders) came as a big surprise. I can sit there and justify the […]

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Dec

5

Daily Market Wrap 05DEC07

December 5, 2007 | Leave a Comment

Key market data: ADP employment 189k jobs added, well ahead of the whisper number of about 50k; productivity up 6.3% last quarter vs. est of 5.7%, labor costs -2% vs. est -1.1%; factory orders 0.5% vs. 0.0% est; ISM services 54.1 vs 54.8 est

Key market moves: Dow and S&P rise 1.5%, Nasdaq up 1.7%; MBI and ABK down 8+% on announcement that they may need to raise capital; oil down 83 cents to $87.49 despite OPEC not increasing production and […]

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Nov

30

Flipping China plays

November 30, 2007 | Leave a Comment

This afternoon I decided to flip China plays by taking partial profits in CPHI.OB and swapping the money into CEUA.OB. With China Pharma up about 30% in just a few weeks, it is only prudent to take some off the table, and so I decided to sell about 35% of my overall position at $3.65.

I then decided to rotate the money into CEUA, roughly doubling my stake at $4.71. The stock has yet to participate in […]

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Nov

28

Jumping in on the long side

November 28, 2007 | 3 Comments

Today I decided to jump in on the long side in a number of names. I’m just going to cut to the chase and go down my list of buys.

AVAV at 23.42 because the company continues to get military orders and is ramping up its green energy segments

CEUA at 4.71 because upcoming investor conference might finally put this on the radar

CAGC at 2.88 because China needs non-chemical fertilizer and the stock is dirt cheap

CNEH at 2.20 because it is […]

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