Thursday, June 26, 2014

Futbol Fever

Hard to believe the USA is pumped up about a soccer game, but I know I am. I watched Sunday nights games vs Portugal and it was very exciting. I think there is a fair chance that the game today will be much more passive as both teams go through in a draw and the only risk is getting beaten by a lot.

It has been a up and down week in the market for me. Transactions have been just two, I sold some of my RIOM at 2.38 on Monday (so far a savvy move as it dropped to 2.18) and I did buy/sell XNET as a one day IPO holding for a 2% gain.

Definitely some headwinds on a couple of my stocks. Yesterday WNR dropped over 5% on fears that the US will start importing oil again, which would be a negative for refiners. Then today I suspect PM will take a bit as they reduced guidance for 2014.

I continue to hold a chunk of TZA as a hedge against a market drop. My timing on these moves has never been good. It is pretty amazing I am keeping pace with the market the past two weeks with the TZA albatross (my third largest holding and down 2.5%).

If you believe in Chartists (always a bit dangerous in my mind), SYNA is ready for a breakout move up.  Bob Lang, the one chartist I follow on twitter said so yesterday.  In the month I have been following his calls, he has seemed right more often than wrong, so we will see.

In Bermuda today, unbelievably humid out there - my glasses fogged up when I walked outside. But it is beautiful and I will be dining al fresco on the harbor front tonight (hopefully celebrating the USA going to the knockout stage).

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