This week has been a comedy of sorts for the book of Raul. I’m churning my book around quite a bit, sloshing around in the choppy waters of this shallow dip.
At times I want to be all cash, other times beta neutral, and now today I’m about 55 percent exposed. My exposure is long equity 50 percent and short yen 5 percent via YCS which is an ultra-short, meaning I get about double exposure. It’s very grand and nice.
I’ve cut some of my big winners free, as a sacrifice of sorts to the stock gods. As such, they’ve granted me AWAY, which is propelling my book higher today. I took a modest 1/3 scale already, after the stock appreciated 5 percent overnight. I don’t always scale at 5 percent profit, but it’s a nice fixed target if you’re back testing a strategy (you’re welcome new coders, I hate you).
I cut TIF after it went 2 percent against me, I was quick to cut HUN and and HOV on Monday too. I’m not giving longs a ton of room to run against me, as any one of them could be a jack-in-the-box scrotum punch.
CREE won’t quit. Will it ever?
I miss my Zillow and Tempur-Pedic already.
Is Ford gay, or do they want to win?
Heckmann (HEK) looks pissed and ready to rip, more than any other stock.
The above snippets are major themes in my ongoing internal dialogue.
Finally, fellow blogger network gent @capitaloverlook aka YoungGun put out an interesting tidbit on online gambling today. You should read it. It’s a nice piece of anecdotal evidence behind the Zynga play.
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Appreciate the shout out!
Absolutely, thanks for sharing.