Trading Track is going to be a new ethi-Letter feature. It is a quick, memo-style analysis of current trading strategies I'm employing broken up by Index, Individual Stock, and Bond plays. Kind of like a quick temperature of my trading activity.
1. Index - Long QQQ Looking to bail on some at 2080 Naz
2. Individual Stock - Picked up a bunch of PD at 68...Halved my cost basis. Caught a 1.75 updraft the next day. Went deeper on CHTR, waiting for convertible refunding to wash out the shorts and go higher. FRX is disappointing after a similar low end double and lost almost 3 points, not sure I want in anymore. Holding over 2000 IACI on a breakout yesterday on the Amazon numbers, looking for big upside here.
3. Bonds - Shut down and not doing anything. Waiting to see where interest rates shake out over the near term (Oct). Have a large stake of Inverse Floaters (CMOs) that I want to let unwind for a while. Not too worried about Rates getting out of control since we have no reason to believe that things wont be as orderly on the way up as they were on the way down. This says my floaters can unwind fully just in time to turn over some refunding next year and go straight into 10 year Munis.
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