A Perspective, From the Precipice
By Bill Fleckenstein
Special to RealMoney.com
09/05/2003 06:37 PM EDT
URL: thestreet.com
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"My investment position (coming into today [Friday]) represented my views: Short Intel (INTC:Nasdaq) . Long Intel puts. Short Applied Materials (AMAT:Nasdaq) . Long Applied Materials puts. But I am also long more Advanced Micro Devices (AMD:NYSE) than short Intel, for reasons I have described , even though I think there is more money to be made by being short Intel than being long AMD. I am long silver, long Pan-American Silver (PAAS:Nasdaq) , where I am a director and interested shareholder. I'm long gold, long Newmont Mining (NEM:NYSE) , long Annaly Mortgage (NLY:NYSE) , long euros and Canadian dollars."
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"I had been looking for a poor employment number today, and planned on getting aggressively short if the market was unable to ignore it. . .
Therefore, I put on a pretty sizable short position in S&P futures, as opposed to individual stocks, because to my mind, it's "all one trade" at this moment. However, . . I don't know if I will be chased out of this trade first thing Monday morning, or if this is the start of a big winner and I will be adding to it. But it's the first time I have done anything quite so aggressive in well over a year."
read the rest here: investorshub.com |
