recent thoughts and activity on the markets
I have had a heinous travel schedule so far this year related to businesses I used to own and to which I have some lingering commitments. As such I have been away from these boards a fair bit.
I have made some moves in the markets, however, including
-I have been a seller of most every share that cleared the 1 year ownership mark until the recent downturn. I sold some of my stake in ASH on the recent pop. This combined with GNWs ascent to a new 52 week high and XLs share price dropping on the news that it was relocating to Ireland from Bermuda (much of its operations were already in ireland) has led to, for the first time in a year, something other htan ASH being my biggest position. GNW is now my biggest position, and I have largely hedged it. GNW has joined the ranks of 10 baggers for me... :) If XL is removed from the S&P and drops significantly from todays prices, frankly, it owuld represent a good buy once again. Its going higher in time.
-I have increased my MCGC position in last weeks weakness
-I have added to my RJET position. that sucker has been on one heck of a non-winning streak. oof. DespiteRJET being one of my 10 biggest positions and tanking horribly this year, I hit an all time high a couple weeks ago.
-I sold part, but not all, of my JOEZ position, my pet micro cap stock from last year, after it cleared 1 year of ownership
-I bought ZAGG as my new pet stock
-I took a small position in FTR and SHBI and added to my GRNB position. GRNB had a good quarter and the valuation remains very cheap. GRNB and SHBI are small positions by necessity as they are small cap low volume stocks. SHBI is a low-risk small cap bank that has fallen to risk-bank valuations. Not going to be a 10 bagger, but it pays 5% and could quite reasonably double going forward.
-I lucked out huge and hedged my TCK shares (one of my 5 biggest positions) right at the top, and covered them when it fell to 34. saved most of the pain of the drop.
-I un-lucked out and didn't cover my RCL hedges and i'm underwater on those now after being up, oh well
-i hedged my GCI. went underwater for a while, then way above water on those. Not quite a strong enough hedge to save me all the downside that stock has seen recently, but it helps
-removed my hedges on OSK and sold 20% of my position as it cleared 1 year
-looking at a big move in BAC if we get any further weakness, started it on a small scale. Its an options play with an unusual design.
-I began selling some of my BZ position at a 10+ bagger, but stopped when it fell from $6 back towards $5.
-I am thinking about a position in T. and maybe VZ as well. Great yields, low beta, I just think it wouldn't kill me to have a low beta stock or 2...
-I vastly hedged my ACAS position when it cleared $4. I just don't want to be a part of that circus any longer.
So buying: RJET, MCGC, some small cap banks (GRNB, SCMF, SHBI) and a little CNO. But a net seller this year as I've begun to clear 12 months on some positions.
I am considering shorting a stock that isn't a levered ETF for the first time... But i don't have any good ideas on that. I thought about AMZN at 80, good thing I didn't do that. I thought about Green Mountain Coffee Roasters a while back, good thing I didn't do that. Shorting is a tough sport to win with real money at. Easy sport to win with on caps at times... but tough with real money. Special situations only, perhaps.