Friday, September 7, 2007

Cautious

That's how I feel! I did a lot of selling today simply because I did not want to give back my hard fought gains. Could we go right back up next week? Yes. But, I think its more likely that we retest the lows.

Here is my portfolio as of week end. It is worth noting that my position in SHLD is very small and is a long term play on Mr Lampert, I think the stock is a sell, but will continue to hold it like it is some sort of lotto ticket thanks in part to Cramers rant that it could be the next Berkshire Hathaway-- I doubt it, but it is one of those stocks you just want to stuff under your pillow and forget you own, I least that is what I am doing. Cost basis on SHLD @ 112

Have a good weekend, try to rest up, I think we have a long week ahead.

4 comments:

IIO said...

if you think we will continue down, why don't you at least hedge with some shorts?

Ross said...

I'm with you on Sears but my cost basis is a bit higher. You should check out Greenlight Capital Re (GLRE). Its run by David Einhorn. Several big hedge funds including Third Ave. and SAC have positions.

This must seem like blog spam but this might just be another early retirement lottery ticket.

Here's a direct link to the 10-Q:
http://sec.gov/Archives/edgar/data/1385613/000095013607005599/file1.htm

Anonymous said...

Mytrade sucks hard. Why are pumping that pig?

Ragin' Cajun said...

iio,

I'm not that bearish on the market, yet. Plus, all it takes is a little good news and were back to the races-- effectively ripping the lips off the shorts. I don't want to be that guy.

Ross,

thanks for the link, I will check into that.

anonymous,

I happen to like mytrade.