We bought Direxion Financial Bear 3X ETF (FAZ) shares today at $19.67. We did a couple of round-trips on Direxion Financial Bull 3X ETF (FAS) shares earlier in the week as we twittered previously – those trades were modestly successful. FAZ is the bear equivalent of FAS – The ETF tracks the daily performance of Russell 1000 Financial Services Index at 3X inverse leverage. This is again another speculative trade and the holding period is expected to be a few days.
Below is our updated portfolio - it is about 35% in the red. Our cash position is at 13%:
| Stock | Buy Date | Buy Price | Current Price | Current % Of Portfolio | Unrealized % Return | Yield as % of Portfolio Value |
| Altria (MO) | Various | 16.69 | 17.21 | 4.79 | 3.14 | 0.38 |
| Philip Morris International (PM) | 1/4/2005 | 32.19 | 38.30 | 8.60 | 18.97 | 0.45 |
| Kraft Foods (KFT) | Various | 24.03 | 23.07 | 4.28 | (4.01) | 0.23 |
| Pfizer (PFE) | Various | 24.37 | 14.38 | 6.67 | (40.99) | 0.30 |
| ICICI Bank (IBN) | 5/18/2006 and 08/01/2008 | 25.28 | 14.79 | 6.86 | (41.49) | 0.30 |
| Advantage Energy Fund (AAV) | 11/2/2006 | 11.22 | 2.70 | 1.25 | (75.95) | 0.17 |
| Central Europe & Russia Fund (CEE) | Various | 39.23 | 16.36 | 5.31 | (58.29) | 0.03 |
| Patni Computers (PTI) | 8/10/2007 | 20.85 | 5.49 | 2.55 | (73.69) | 0.08 |
| Itron Inc. (ITRI) | 11/07/2007 | 85.01 | 49.08 | 4.55 | (45.23) | None |
| Anthracite (AHR) | 11/09/2007 | 7.97 | 0.43 | 0.20 | (94.60) | 0.00 |
| ClickSoftware (CKSW) | 11/09/2007 | 4.61 | 2.89 | 3.69 | (19.96) | None |
| Harvest Energy (HTE) | 11/28/2007 | 21.01 | 4.09 | 1.52 | (80.54) | 0.22 |
| iRobot (IRBT) | 12/18/2007 | 18.65 | 8.96 | 3.32 | (51.55) | None |
| LDK Solar (LDK) | 01/22/2008 | 30.49 | 7.76 | 2.16 | (74.55) | None |
| Aegon N.V. (AEG) | 04/28/2008 | 15.99 | 4.97 | 1.38 | (68.91) | 0.00 |
| LM Ericsson (ERIC) Call Value | 05/05/2008 | 11.83 | 7.50 | 5.56 | (36.59) | 0.15 |
| TD Ameritrade (AMTD) | 05/21/2008 | 17.68 | 14.72 | 5.46 | (16.76) | None |
| Trina Solar (TSL) | Various | 24.90 | 12.19 | 5.65 | (51.05) | None |
| Costco (COST) | 08/01/2008 | 62.28 | 48.46 | 4.49 | (22.19) | 0.07 |
| Frontline Limited (FRO) | 10/06/2008 | 36.95 | 19.92 | 2.77 | (46.08) | 0.17 |
| DryShips Incorporated (DRYS) | 02/09/2009 | 6.96 | 5.11 | 3.32 | (26.62) | 0.00 |
| Direxion Financial Bear 3X ETF (FAZ) | 03/26/2009 | 19.67 | 18.64 | 4.32 | (5.23) | 0.00 |
| Cash | 13.08 | |||||
| Total Portfolio | (35.89) | 2.54 |
- For Altria and Philip Morris International, assumed spin-off ratio of 30.83:69.17. Altria is yet to supply the cost-basis info
- For Ericsson, we wrote April 7.5 covered calls on them at 0.95
Below is a summary of transactions during the year:
| Stock | Buy Date | Buy Price | Sell Date | Sell Price | % Gain (Loss) | % Portfolio Return* |
| DryShips (DRYS) | Various | 11.66 | 01/29/2009 | 8.96 | (23.29) | (1.39) |
| DryShips Feb 15 Calls (OOCBC) | 01/29/2009 | 0.20 | 01/16/2009 | 2.50 | 922 | 0.58 |
| Companhia Siderugica Nacional (SID) | Various | 11.03 | 01/29/2009 | 16.01 | 44.86 | 1.73 |
| Taiwan Semi Feb 7.5 Calls (TSMBU) | Expired | NA | 01/09/2009 | 0.90 | NA | 0.77 |
| Taiwan Semi (TSM) | 7/27/2006 | 8.70 | 03/03/2009 | 7.76 | NA | (0.78) |
| Direxion Financial Bull 3X Shares (FAS) | 03/16/2009 | 5.09 | 03/19/2009 | 6.53 | 28.31 | 1.26 |
| Direxion Financial Bull 3X Shares (FAS) | 03/23/2009 | 5.94 | 03/23/2009 | 6.22 | 4.63 | 0.19 |
| Direxion Financial Bull 3X Shares (FAS) | 03/24/2009 | 6.45 | 03/24/2009 | 7.12 | 10.30 | 0.44 |
| Realized Gain/(Loss) YTD | - | - | - | - | - | 2.80 |
- % Gain/Loss Relative to Portfolio Value at Beginning of Year + Deposits
- The table assumes realization of profits associated with selling options only after the option is exercised or expiry.
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