Sold GNET at $109 GIFT, except 10Kshares, Sold AOL at $120 (ALL).
I was Long over the weekend. Luckily GNET went back up, its risk was downside to $89-$90 like last week Thursday, except for the Friday good news on unemployment, but this one, GNET, with its high multiple is very interest rate prone (30 year Treasury long bond 5.94) for a discount if the bond yield hits 6%. Greenspan "focus" on Asia rebuild, and Asia banks, and Asia credit may help the IBM, DELL, CPQ and so on, but it does nothing for GNET, GENT neither IMPORTS nor Exports to Asia does it? No, and all Greenspan focus is helping IMPORTERS not exporters, exporters have been having no luck anyway on exporting to china, for a GREAT READ, see THE YEAR OF THE RAT, by Timberlane.
I am,
Truly yours,
-Crystal ball
P.S. It was hard to part with 30,000 of my 40,000 GNET at $90-$102, but I had no problem parting with 30,000 at $109. In that sense, I think being consistent over LONG or SHORT means WHEN, not a RELIGION.
(Personally I do not SHORT SALE securities I do not own, I may have a beleif that a SHORT is in order, which means the brave may SHORT SALE securities they do not own, and the rest of us simply SELL (Also called SHORT) our current holding positions. |
