Fuck it, I changed my mind, with regards to my current positions. I’ve been toiling over my current structure and, frankly, have been in denial for too long. I have been slowly bleeding out for about a month now, so it makes little sense to continue holding onto bullshit depreciating assets.
I have decided to build around certain names and use the proceeds of my sales to fund my new investment thesis. In other words, I have been slashing and burning through my positions, going to cash, in order to accumulate core positions at a discount and new names on the cheap. The reason for this shift is very simple: everything is dropping now. Therefore, it makes zero sense to hold onto low quality crap, when you can buy high quality crap, at a discount.
Hence, I sold out of Trident Microsystems, Inc. [[TRID]] , GameStop Corp. [[GME]] , Ingersoll-Rand Company Limited [[IR]] , Umpqua Holdings Corporation [[UMPQ]] , Sify Technologies Limited [[SIFY]] , [[CNXT]] , Arena Resources, Inc. [[ARD]] and Finisar Corporation [[FNSR]] . I’ve decided to stick with, through good times and bad, Flotek Industries, Inc. [[FTK]] , [[ENTR]] , Atmel Corporation [[ATML]] , Corning Incorporated [[GLW]] , OmniVision Technologies, Inc. [[OVTI]] , SandRidge Energy Inc. [[SD]] and salesforce.com, inc. [[CRM]] . For the moment, I am holding [[UNG]] and [[ERX]] . However, they are trading positions and subject to sale at anytime.
With the proceeds, I will likely nibble at some of my core holdings, but in a patient/methodical manner. More importantly, I will commence building a portfolio of select tech names, at a deeper discount, if possible.
Based upon past statistical data, The PPT is suggesting the market will bounce tomorrow, or at a minimum, sometime very soon. Therefore, I will not be adding any shorts to the mix.
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