I have 24 equity positions in the long/short book - each and every one is up. So it looks like yet another 90% day... heck maybe 95% for good measure. Once more this market no longer is about what you own, just being long or short at the right time.... the individual names mean little as the PhDs whirl and buzz with their algo's. Even VMWare (VMW) which was trashed over the weekend in Barrons' is up... apparently silicon code does not read Barron's.
I'm reading on some sites that the past two weeks have turned into more of a stock picker's market... sorry I don't see it. Not one bit. Almost every day 21-22 of my positions have all gone in the exact same direction.
The stop on my Monsanto short @ $57.52 triggered this morning. The low of the day is $57.80 as the stock gapped up, so my loss will be in excess of the 3% I was trying to lock myself into. Indeed it looks like I was handed an awful price in the mid $58s.
Long VMWare in fund; no personal position
Monday, September 13, 2010
Bookkeeping: Stopped Out of Monsanto (MON) Short
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows