Honored

First of all I would like to thank you, my readership, for reading, and commenting on my posts and ultimately voting me into the position of King of the Peanut Gallery. It has been a great pleasure sharing what I have learned and truly rewarding to hear from so many of you that you are finding my ideas of some value.

I look forward to sharing my work with you over the next month.  I find that my own knowledge and trading improves when I articulate it and answer your questions. This is a great exercise in focus for me, so I will enjoy learning with and from all of you.

My portfolio consists of two parts, my long term port and my short term port. While my long term port tends to remain invested, my short term port has a varying cash position. As of yesterday, my short term port is now 75% cash. I went to a large cash position for two reasons (other than taking profits). One is the uncertainty of the market action for the start of 2011. Those of you who know me, know that I am bullish with regards to 2011, but I recognize that we can easily see a correction and I prefer to wait for the price action before deciding how to allocate that cash, but I have another reason as well. I am moving cash to a new broker, separating my long term holds from my short term holds by brokerage.

As this will take a few days, my trading will be limited for the first week of January, but don’t worry, I still have lots of ideas and set-ups that I will share with you when the time comes.

Meanwhile, I will let you know that my current holdings consist of the following.

In my long term port : $VZ, $FTR, $NZT (yes I know there is a theme), $WWE & $PWER.

Stocks that I am watching for entry to add to my long term port for 2011 include $GNK and $MU.

In my short term port, I make a combination of day and swing trades. These can last to anywhere from a few minutes to a few months. I tend to allocate very small positions initially so that I can be nimble and liquid at all times.  My short term port includes : $TRLG, $F, $MIPS, $RF, $HAFC, $ITUB, $NARA. Again you will notice a theme in small banks coming into 2011, but certainly this is not the first place you have heard this. Many of us took The Fly’s directive to heart when he suggested we look at small banks; I still like the set-ups in these and I will be watching the price action closely in the coming days.

I will leave it there for now. I am excited about the coming month and a lucrative 2011.

And a very Happy New Year to all !

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