Wednesday, September 3, 2008

Housekeeping Notes.

Regarding my earlier post on Ospraie, I omitting the, at this point almost comical fact, that Lehman owns a big chunk (20% stake) of it. Are you shocked by this? You just cannot make this stuff up, as I wish I had, as do Lehman shareholders, I am sure.

Housekeeping notes;

I neglected to include that I was stopped out of my DBA position yesterday as it gapped down and opened at $34 which is where I was stopped out for a loss of $1.35 on 2 units long.

I am moving my stop on XTO up to break even at $44.49 not that this will help as the margin clerks are purging the hedge funds portfolios.

My IBM short position is working in my favor so I will lower my stop on it to $126.36

My AAPL short is working also and I will lower my stop on it to $177.76

Good speculating to you all and never ever forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 2 units of XTO Energy ticker XTO @ $45.40 stop at $45.49
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $126.36
Short 3 units FedEx ticker FDX @ $87.10 stop at $88.16
Short 2 units of Apple ticker AAPL @ $178.05 stop at $177.76
Short 1 unit ticker CRM @ $57.05 stop at $60.62


m said...

UNG is worth checking out - 52 week low.

XLF closed at 22 and change. It's at massive resistance now. Might be a good time to reload big on SKF, with some fairly tight stops.

Harleydog said...


agree on both counts.