Wednesday, January 25, 2006

What We Are Doing

The market made 6 attempts to rally in the past 2 and a half sessions. And just as many to sell off. As I am watching this action an old saying of "don't short a dead market" comes to mind.

Anyway, our actions always discount all news, commentaries, fables, opinions of others, etc. So, regardless of what things "feel" like here is what we are doing:
  1. We're covering our Oil short sales here.
  2. We're lightening up on Semiconductor longs (We were mostly long SLAB).
  3. We're lightening up on miner longs.
  4. We're getting long pharmaceuticals (heavily ABT).
  5. Staying long OEX via calls.
  6. Keeping Oil put premium.
  7. Keeping Housing long puts.
This is probably a bit to absorb. The idea of the above (and future "What We Are Doing" posts) is to expand into actual list of trades our fund is performing in near-real time. Stay tuned for this feature to be presented in the near future.

Cheers,
/Dmitry

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