Friday, November 5, 2010

Bookkeeping: Covering Equinix (EQIX) Short

I have a 2.5% gain in the Equinix (EQIX) short.  2.5% on the short side nowadays is +25% on the long side... I feel like Miracle on Ice 1980. I'm going to cover as the stock sits right above the 20 day moving average, if it breaks below that it would be a nice place to press the bet.  Or if it rallies back up to the 50 day.  This will help to offset the losses from the LPS short earlier in the week.  1 for 2 on the short side... in this environment?  Priceless.

As for the greater market, it appears we will never sell off again.  I am going into this weekend essentially short free.... free at last, free at last.  The S&P 500 is holding 1220, and Monday morning melt up awaits us.  On CNBC there is talk of the need for QE3 beginning next July.... ahhhhhh heroin Kool Aid.   The Fed is going to need to start buying municipal bonds to bail out the states by that time or perhaps during QE4... ah, prosperity.

No position


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