Bookkeeping: Adding Fertilizer and Coal

Continuing to scale in Mosaic (MOS) and James River Coal (JRCC) on weakness

In the rally Monday I cut back Potash (POT) and CF Industries (CF) to 0.1% stakes so I'm going to start rebuilding these as they have fallen quite a bit - CF being destroyed to tune of 16% down on downgrade. This is why I scale in, and take profits when given.

Mosaic up from 2.6% to 3.4% of portfolio with purchases in the $77s
Potash from 0.1% to 1.6% of portfolio in the $146s
CF Industries from 0.1% to 1.7% of portfolio with purchases in the $92s

I said in earlier purchases of James River Coal (note we sold this at $35 on Monday) we wanted to see $24-$25s and we got it today - up from 2.1% to 3.3% of portfolio

If these fall another 8-10% we'll add more. This is not an investing climate, only for traders so thats what we're doing. Again let me stress we are doing this from a position of >50% cash and we're just using part of our portfolio to trade, until this market begins to respect fundamentals again.

p.s. RIP Washington Mutual (WM) another short opportunity we called but could not partake in.
p.s.s. I still think a bailout gets announced by Sunday night.
p.s.s.s. the fact we have to game bailouts more than company fundamentals shows you this market is a complete waste of time at this moment

Long all names mentioned in fund ex Washington Mutual; long Mosaic, CF Industries, James River Coal in personal account