August 14th, 2006
Some trades
Took advantage of the rally to take off some bullish positions. Sold RCL on fears of a consumer slowdown. Covered the Lion’s Gate position with call options. Took a bearish put position on Hewlett Packard ahead of earnings.
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[...] We owned shares of RCL for several years but sold them back in August when we got especially worried about consumer spending. So far that trade has been making us look silly, but comments like those above make us feel less embarrassed by it. To be sure, indicators such as customer deposits (which are typically nonrefundable) are strong. But the consumer spending outlook remains questionable, and even if customers don’t walk away from existing deposits there is still the potential for further slowdown. For more information, see all articles on: Stock Market, RCL This article is for entertainment purposes only and reflects the author’s opinion. It is not a solicitation or advice to buy or sell any securities mentioned. Always consult a qualified advisor before making investment decisions. [...]
[...] was a long-term holding of mine, but I sold it nearly a year ago due to premature consumer slowdown fears. The stock is up modestly from where I sold it, though [...]