Wednsday's Activity, Overall Performance, Current Holdings
Covered all SCMR at 8.40 +1.47 in pre-market
Covered all WFMI at 54.00 -6.05
Covered all GE at 50.98 -1.41
Bought 1/2 position ADIC at 23.20
Bought 1/2 position TWMC at 8.04
After a great start to the day, things deteriorated all day and I ended with a small loss.
Market gave me a head fake today, after a smaller than expected PPI #, the futures were still down significantly in pre-market.
My gut was telling me to cover some positions early, but I didnt listen and only covered 3.
Considering the market blastoff, my portfolio was down very slightly. (I say it again - diversify and balance your portfolios with longs and shorts)
Loss of ($7,609) or 0.46% for the day.
Overall Performance since April 28, 2001:
Potfolio value is $1,641,969
Portfolio is plus $141,969 or +9.46%
I am currently 2 to 1 to the short side (approximately 379K long and 728K short, 66% vs 34% to the short)
Portfolio is approximately 67.45% invested
Total realized gains since April 28, 2001 are $119,581
In 13 trading days since inception I am averaging a gain of 0.73% per trading day.
10 out of 13 profitable trading days.
Today was a perfect example why I diversify and hedge.
Still pretty amazing considering I been only 1/2 invested of cash and 1/4 of margin buying power.
Also, the portfolio has had very tiny volatility and risk.
Link for Current Holdings:
siliconinvestor.com
The link above mirrors my personal portfolio exactly.
On April 28, 2001 the portfolio was valued at 1.5 million
A full position represents 6% of portfolio or $100,000
At the end of each month, I dollar cost average 1/2 my profits into value mutual funds.
The portfolio is managed like a hedge fund. (a mix of value longs and overextended, overvalued shorts)
I try to limit my loses to 8-10% maximum and most of the time much smaller, based on a full position.
Many Happy Returns
Michail |
