As mentioned a few weeks ago I'll be closing the portfolio down at end of session today, to concentrate on other issues. (will continue to post market, economic, and stock comments here for a while)
That said I am going to get a jump on things - I sold the TNA I bought Wednesday afternoon expecting a much nicer jobs report and move to near 1225. But I lucked out yesterday as the market rallied predicting a good jobs number, and when the good economic news does not come through it doesn't matter - David Tepper says so. You win in all situations.
I also sold Ultra Silver (AGQ) which I restarted in the fund Monday. It is up 15.5% in 4 days as silver is on fire. Apparently silver now wins in all economies - it is the David Tepper metal; if economic figures are bad it means more central bank debasement of fiat currency, and if the figures are good it means more industrial usage ----> "you can't lose!"
I sold a portion earlier this week after gaining 10% in 2 days, but will dump the rest here as it approaches old highs, for +15.5% in 4 days. In a real world portfolio I'd cut back here as it approaches yearly highs, and then if it breaks out over that level (say over $30.00) I'd have to consider strongly buying back the exposure on a 'double top breakout'. Otherwise, I'd buy the David Tepper metal on a pullback.
No position
x
Friday, December 3, 2010
Bookkeeping: Closing Ultra Silver (AGQ)
Posted by
Mark
at
11:17 AM
Bookkeeping: Closing Ultra Silver (AGQ)
2010-12-03T11:17:00-05:00
Mark
Ultra Silver|
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Labels: Ultra Silver
Bookkeeping: Closing Ultra Silver (AGQ)
2010-12-03T11:17:00-05:00
Mark
Ultra Silver|
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