Diary of a Financier

From the Trading Desk: Weekly Update

In Trading Desk on Fri 15 Apr 2011 at 18:02
  • Closed: FSLR (+12.40%), NUE (+6.83%), (GLD Sept 141 Call) (-15.15%), ACI (+0.25%), LMT (+12.16)
  • Opened: ADM, VXZ, CUQ-T

In other news from the Trading Desk, Delcath (DCTH) exploded 20+% on April 13 due to an announcement that they received European CE Mark approval, which allows them to distribute their medical product throughout the region.  I mentioned in passing back on April 1:

…there’s a new stake in Delcath Systems (DCTH), for which I have some high conviction.  I performed a lot of due diligence on that one, so I’ll probably drop an entry on it in the near future.

I made my long-awaiting entry into The Churchill Corp (CUQ-T) today too, buying the breakout at a $20.32 basis with which I’m quite pleased.

I also closed that GLD short September 141 Call.  I wasn’t exercised as it still trades well within the premium I collected, but I came to terms with my original thesis: it was admittedly a “short-term” play with full recognition that I was [anxiously] early to the precious metals collapse.  All of a sudden, Gold is trading like Silver’s younger brother–quite backwards from convention.  Silver’s drawn like a magnet to that Hunt Brothers $50 target, and as a result, Gold is now the one piggybacking.  I keep harping on commodities & precious metals, and I’m trying to just sit on my hands until I hear no more bears in the crowd.  My attempted patience derives from the school-of-Jim Rogers, who said:

One of the best rules anybody can learn about investing is to do nothing, absolutely nothing, unless there is something to do.  Most people… always have to be playing; they always have to be doing something…

I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up.  I do nothing in the meantime.


View Trading Desk

  1. […] because it’s not already happening, it’s what’s about to happen.  Like I keep saying, I’m early to the contrarian pregame, and I’m happy to wait patiently until the money […]

  2. […] played virtuoso through every subsequent dip.  We rode Gold to the tippity top, we let go to let Silver drop, we were all over the precious metal/commodity slop.)  Here today–resting on the bottom […]


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