Yeah, I’m stuck in a cabin with a raging blizzard outside. My backcountry skiing trip has turned into an extended stay in my rustic cabin, as I burn cords of wood to stave off the cold of a spring blizzard, while using a dial-up connection. Good times!
Oh, by the way, the 30 stocks that I bought the past week? Up 16.25% as a group. Thankfully, my thesis about bottom fishing proved to be the correct thing to do. Here’s the gains of the Top 10:
ACAS +56.73%; IX +54.68%; AFL +40.75%; SFY +38.29%; PVA +36.98%l CENX +34.43%; GDP +30.19%; TXT +30.00%; WTI +29.08%; SGY +28.40%.
Bottom 3: SAY -0.00%; AMGN -2.00%; JTX -6.66%
I will sell these tomorrow along with MGM, PETD and WGOV, since all of these lagged the S&P’s return of 7.17% today. JTX,, as you might have surmised, will be sent to a special hell, due to it’s egregiously wicked return today.
My take on this market is that we will see this rally extend, until it doesn’t. Just keep the “big picture” in mind and don’t hesitate to take profits and get short again. The D-press-shown that is coming will eventually drive prices back down again.
In the global macro account, I now only hold small positions in SH and TBT. I bought more SPY earlier today and also sold FXE, FXB and bought FXA and FXC. I’ll update more on this tomorrow, as some explanation is in order.
Time for another log on the fire and goblet of Grand Marnier.
That is all, friends.
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