So our fund closes the books on another month and it looks to me that after fees we are up 1.5% or so. Ill take that. The market turned in quite a subdued performance today - my partners technical studies turned pretty negative today - so we bought some index puts on the close - we'll see how that plays out. I have been way more bearish than him so hopefully his timing is better than mine.
Tomorrow we have HOV earnings - Ill be watching closely to see how that impacts my pref vs common arb. Hopefully they will have meaningful positive things to say and the preferred catches a big bid. Right on the close Credit Suisse upgraded RIMM (strange timing if you ask me) the stock is popping a buck in afterhours trading. REITS, TECH, DARKMATTER all weak today - we'll see what tomorrow brings. By the way does anyone else think releasing the lockerbie bomber is awful - not sure where that came from but its been bothering me.
Its a beautiful day outside so I think Im gonna beat the traffic and jet outa here a little early.
JB
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From the looks of things at 07:12 AM ESDT, those index puts you bought on the close should have a nice payoff today -- if the futures hold or slide further.
ReplyDeleteGood analysis and timing
fp
Futures at 7 AM don't mean squat!
ReplyDeleteMarket gaps up a bit up on the ISM news. Ra! Ra! Close analysis shows there nothing in the ISM to support popping the corks on the vintage Dom Perignon. Even if it is "mini-good news" the zero-brained analysts would say the news is already priced into the market. And maybe they would be right for a change.
I'm missing the expose of the Trader's Mind this morning.
fp
SOrry Im back - I had a breakfast meeting.
ReplyDelete