Friday's Activity, Overall Performance, Current Holdings
Sold all GNLB at an average of 3.75 +1.25 (started selling too early in the day, closed at 4.05, but its hard to get off 70K shares, I am still very happy, but think GNLB is heading to 5)
Stopped out on all RNWK at 13.50 -.70
Roundtrip short in HPOW +1.50 (got a partial 600 shares at 16 and covered at 14.50)
Bought 3/8 position HYGS at 6.57
Bought 1/8 position HYGS at 6.15
Reshorted full position RNWK at 12.97
Shorted 1/2 position INRS at 39.90
Shorted 1/2 position ERTS at 59.10
GNLB kept me busy all morning long as I was selling all my shares. It was a great start to the day, but most of my shorts were not working Friday. Despite a great start, I ended the day with very nice profits, but nothing spectacular unfortunately.
Broke my streak of 3 consecutive losing days.
Profit of $23,565 or 1.46% for the day.
On the week, after RRRR debacle, unfavorable fed decision, tame PPI #, market blasting and me being significantly net short every day, I feel like I just went 12 rounds with Tyson. Got my ear bitten off and lost a close decision:-)
Loss of (28,497) or 1.71% for the week.
I need to find some quality longs to balance out my portfolio more.
Overall Performance since April 28, 2001:
Potfolio value is $1,641,457
Portfolio is plus $141,457 or +9.43%
I am currently 9 to 1 to the short side (approximately 90K long and 799K short, 90% vs 10% to the short)
Portfolio is 54.16% invested
Total realized gains since April 28, 2001 are $171,628
In 15 trading days since inception I am averaging a gain of 0.63% per trading day.
11 out of 15 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 |
