aware of my self-congratulatory tone I’ve taken the profit on 40% of the SIMO position, actually bringing it in line with the BBRY position, on which I previously took partial profit.
Much like with the tentative GDX short position, my shorts against commodities, financials and small caps are against long positions; two of which are doing really well and I have held (and traded a bit around a core hold) for an extended period.
Silicon Motion is one that was bought on opportunity and noted in NFTRH for its opportunity when it tested the SMA 50 at the end of April. It was a relative value in the Semi space.
Blackberry (when oh when are they going to change that name, to something cool sounding, like say… Research in Motion?) is one I’ve held since it began to show tangible evidence that its new strategy (software vs. old fashioned hardware) was taking hold.
There is a lot of talk about how the S&P 500 is thinning out, but there is still a decent stock picking backdrop in place. Meanwhile, as they bounce the market I’ll have to decide whether to hold the financial and small cap shorts, which as noted the other day were taken before actual bear breakdowns.
That’s a matter for another moment I guess. For now, sometimes I like to put up fluff posts showing what I’ve done well (now come on, you know there are plenty of posts about what I’ve screwed up too; just let me have this… ).
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