Thursday's Activity, Overall Performance, Current Holdings
Sold all ADIC at 22.75 -.45 (at the opening)
Sold all TWMC at 8.06 +.02
Covered all CMVT at 71.40 -6.65
Covered all FCEL at 81.00 -20.25
Covered all CPST at 33.00 -1.85 on 1/2 position and -3.69 on the other 1/2
Shorted 1/2 position RNWK at 12.80
Shorted 1/2 position SCMR at 10.30
Shorted 1/2 position EPAY at 5.58
After a bad start to the day, things never improved from there and I ended with my 3rd straight losing day.
It was damage control today as fuel cell stocks went crazy.
Took loses in 3 positions that were giving me the most stress.
Sure wish I covered CPST in the 28s yesterday, got greedy and got spanked.
For now, hit and run is the best play when dealing with shorts.
Considering the blastoff today, my portfolio was down a very reasonable amount.
Loss of ($24,077) or 1.47% for the day.
Overall Performance since April 28, 2001:
Potfolio value is $1,617,892
Portfolio is plus $117,892 or +7.86%
I am currently 7 to 3 to the short side (approximately 277K long and 644K short, 70% vs 30% to the short)
Portfolio is approximately 56.93% invested
Total realized gains since April 28, 2001 are $85,658
In 14 trading days since inception I am averaging a gain of 0.56% per trading day.
10 out of 14 profitable trading days.
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 |
