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 […]
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 […]
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 […]
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 […]
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, […]
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 – GLW Nuance Riverbed […]
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 […]
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
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 […]
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 […]
