Sorry for the prolific 'new posts-' it's my only means of communication while at work.
(a) Thanks again to port- it was his recollection of SJT cutting its dividend to a penny at the 2009 lows that led me to decide early this morning to close my position (2000 shares) at the open (at an average of 19.10).
(b) Watching SJT drop further to a 17-handle then gave me the 'WTF' confidence to bet my 'getaway loot' on an IRE flyer (7000 shares) at 5.48, and exit at 5.44.
So cutting my losses quickly on SJT allowed me to flip the bird to the Market, and the Irish Whiskey further smoothed things out. Unfortunately, I should have waited longer to exit IRE- then I would be entitled to break the ----ing glass on the fireplace!
Nice move 2nd but did you sell IRE at a loss?
ReplyDeleteSORL is starting to make its move...I see green skies (yes, green) until $3.5 and possibly as high as $4. The beauty of having a smaller position is I'm willing to say eff it with this one.
IRE - Good move guys, don't know how you picked that particular tree from the forest.
ReplyDeletePAL - Still stinking...
ReplyDeleteFCX is red today probably because of local rebalancing done by hedge funds. Don't worry about it. GDXJ is also red today.
ReplyDeleteBut the key thing to notice is that the TED spread took a large dive today, down to 52.6 (that's why IRE is probably rallying). TLT is also down big today, and so is $USD index. The CDX.NA.HY spreads are down again today. So the rally lives on.
I agree David.
ReplyDeleteDavid - did your buy trigger on IRE?
ReplyDeleteGuys - The real buy was STVI...I actually was going to post about it a week or two ago and how I thought it would run, but its so freaking small that probably none of us would have bought in. Needless to say it's up about 100% in 2012.
ReplyDeleteTOF- Your right! Congrats on the package. That's very generous in today's world.
ReplyDeleteKyle?
ReplyDeleteCongrats on SORL. I wouldn't get to cute with it.
ReplyDeleteMark - Yea man what's up???
ReplyDeleteJust checking to see if she was cute or not :)
ReplyDeleteHaving comcast internet problems today. Thought she was coming back w/ Bill G in a few...
ReplyDelete"David - did your buy trigger on IRE?"
ReplyDeleteNo, I canceled it and instead decided to use those funds to reduce my margin debt. I should *really* stop buying stuff and instead start thinking about taking profits and reducing my margin debt. Dipping into margin should be a temporary phenomenon, but my recent "dip" is lasting since August, with my margin debt being around $70K now. And in addition to that, I owe about $40K to my credit cards with various 0% offers that expire this summer, so I need to pay off those as well...
SCCO - Well, I lost track of this one, but look at the reaction once the inverse neckline was overcome...
ReplyDelete2nd, good move on SJT, I had posted MAD's thoughts on natty the other day, RoBear mentioned the divvy cut.
ReplyDeleteteam - congrats on the new life. Change can be exciting.
I sold 3 Feb 45 strike FCX calls for $1.20, this goes against long stock i've been holding for awhile. Mostly I'm just selling a little here an there as the market goes up. I raised a litte more cash in the 401k account yesterday.
It seems like the rubberband is stretched to the upside on the market but everything sure seems bullish now. Sounds like europe was just a form of QE3. Kass made a pretty good call this time.
BAC - if it backs up some I'll just buy a few shares and forget about it. I may just buy a few shares anyway.
I can't even pull the blog up anymore at work and at home, I still have to use firefox to post. Strange.
RE: SORL - POS's like STP, HSOL, and CAAS have gained 60%+...I think SORL can easily do the same...I'm targeting $3.47 but I'll take $3.3-$3.4.
ReplyDeletehopefully TBT will rally a bit more and I'll get out of it. THat will put an end to my last big messup, till the next one anyway. i'm surprised how little it's rallied with the market going up.
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