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

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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