Well, losses in our SLV and RVBD positions neutralize our gains in LPS and with the markets just not finding any legs today, I finished up in the red for the day. I bought some Google calls and did little else trading today. Tomorrow I'll run through a fundamental and a technical trading update on some of our positions. Thanks for reading today and I'll see you back here … [Read more...] about Well, losses in our SLV and RVBD positio…
lps
I bought the Google calls and am watchin…
I bought the Google calls and am watching LPS continue to crack. Riverbed and Ciena both look tempting to me, but I was a buyer of both in front of you guys at lower levels in recent weeks and I'm not going to force anything more just now. The S&P 500 and the DJIA are both literally flat on the day, up 0.00% at this minute as I type. Don't lose focus, but there's … [Read more...] about I bought the Google calls and am watchin…
A flat open, and I mean flat, as the DJI…
A flat open, and I mean flat, as the DJIA's so far ranged somewhere between being up zero and one quarter of one percent on the day. In rather non-shocking news, Riverbed and Silver are the biggest movers of the day. No surprise given how volatile they are typically anyway. Most profitable this morning is our LPS short and the puts we added yesterday, all of which are now … [Read more...] about A flat open, and I mean flat, as the DJI…
It’s just flat out ugly out there in the…
It's just flat out ugly out there in the stock markets today, with higher-beta tech leading to the downside. (Higher-beta means that the stocks are more volatile on most days than the broader stock market indices). I've been steadily putting money to work today, as I'd noted I would earlier. I've purchased Celestica and Nuance and shorted LPS. I might do another round of … [Read more...] about It’s just flat out ugly out there in the…
One of our biggest shorts, LPS is in big…
One of our biggest shorts, LPS is in big trouble. Again. Still. Lately. Late during Friday's trading hours, this bombshell news hit, sending the stock down nearly 7%: Former LPS Employees Allege 30% to 78% Error Rate in Borrower Mortgage Records, Contradicting Banker/Regulator Cover-Up One investor said that every time he looked at corporate misconduct, “No matter how … [Read more...] about One of our biggest shorts, LPS is in big…
Here’s a list of my positions, in approx…
Here's a list of my positions, in approximate order from largest to smallest, though the variations between relative sizes are decreasing as time wears on and I get these longer positions built up. We'll have some shorter-term and newer name trades in coming weeks to complement these longer-term positions. Longs … [Read more...] about Here’s a list of my positions, in approx…
Rougher day for the portfolio today than…
Rougher day for the portfolio today than we have had even on most down days of late. Our silver puts and other bearish bets were all profitable for us today, while most of our longs were in the red. So be it. Three quick news articles for you to look over tonight. First, Apple's got it figured out: iPhone share of phone market in Q1: 5% volumes, 20% revenues, 55% … [Read more...] about Rougher day for the portfolio today than…
Here’s a list of my positions, in approx…
Here's a list of my positions, in approximate order from largest notional size, to smallest: Longs - Corning Nuance Riverbed Cisco Cypress Celestica Ciena Microsoft Apple Google Adtran DBA Visteon Nokia Shorts - GLD SLV LPS LYV XLF CVC … [Read more...] about Here’s a list of my positions, in approx…
Silver has dislocated itself to the down…
Silver has dislocated itself to the downside again today, losing almost 5% this morning and making our SLV puts pop. Gold down. It sure seems to me that silver and not gold is the driver of the direction of the precious metals everyday. Nice gains in the portfolio again this morning and I've not pulled any triggers so far today. As noted by one of our loyal subscribers, … [Read more...] about Silver has dislocated itself to the down…
Our short, Lender Processing Services, i…
Our short, Lender Processing Services, is in the news again. And not for being a good citizen...From NakedCapitalism: FDIC Filed Suit Against Lender Processing Services for $154 Million Ooh, this is getting fun. Peter W found this tidbit in the May 10 Lender Processing Services 8K: The Federal Deposit Insurance Corporation, in its capacity as Receiver for Washington … [Read more...] about Our short, Lender Processing Services, i…