Entered Direxion Financial Bear 3X ETF Shares (FAZ)

We bought Direxion Financial Bear 3X ETF (FAZ) shares today at $10.47. We did a few round-trips on FAS/FAZ prior to this trade as we twittered previously – those trades were modestly negative. FAZ dropped more than 40% today as the financials rallied following Wells Fargo’s surprising rosy earnings pre-announcement. The expected holding period will again be a few days as this is a speculative trade.

Below is our updated portfolio - it is about 35% in the red. Our cash position is at 13%:















































































StockBuy DateBuy PriceCurrent PriceCurrent % Of PortfolioUnrealized % ReturnYield as % of Portfolio Value
Altria (MO) Various16.6916.314.47(2.25)0.38
Philip Morris International (PM)1/4/200532.1932.718.3517.140.45
Kraft Foods (KFT)Various24.0322.354.09(7.01)0.23
Pfizer (PFE)Various24.3713.556.19(44.39)0.30
ICICI Bank (IBN)5/18/2006 and 08/01/200825.2816.757.66(33.73)0.30
Advantage Energy Fund (AAV)11/2/200611.222.721.24(75.77)0.17
Central Europe & Russia Fund (CEE)Various39.2317.465.59(55.49)0.03
Patni Computers (PTI)8/10/200720.856.603.02(68.37)0.08
Itron Inc. (ITRI)11/07/200785.0147.294.32(44.44)None
Anthracite (AHR)11/09/20077.970.500.23(93.73)0.00
ClickSoftware (CKSW)11/09/20074.614.253.89(7.83)None
Harvest Energy (HTE)11/28/200721.014.211.54(79.97)0.22
iRobot (IRBT)12/18/200718.658.403.07(54.57)None
LDK Solar (LDK)01/22/200830.498.082.22(73.50)None
Aegon N.V. (AEG)04/28/200815.994.501.23(71.85)0.00
LM Ericsson (ERIC) Call Value05/05/200811.83 7.505.49(36.59)0.15
TD Ameritrade (AMTD)05/21/200817.68 15.865.80(10.32)None
Trina Solar (TSL)Various24.90 12.795.85(48.64)None
Costco (COST)08/01/200862.28 46.904.29(24.69)0.07
Frontline Limited (FRO)10/06/200836.95 18.072.48(51.09)0.17
DryShips Incorporated (DRYS)02/09/20096.96 4.753.04(31.79)0.00
Direxion Financial Bear 3X ETF (FAZ)04/09/200910.47 10.494.320.160.00
Cash


13.09

Total Portfolio



(34.92)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:








































StockBuy DateBuy PriceSell DateSell Price% Gain (Loss)% Portfolio Return*
DryShips (DRYS) Various 11.66 01/29/2009 8.96 (23.29) (1.39)
DryShips Feb 15 Calls (OOCBC) 01/29/20090.20 01/16/2009 2.50 922 0.58
Companhia Siderugica Nacional (SID) Various11.03 01/29/2009 16.01 44.86 1.73
Taiwan Semi Feb 7.5 Calls (TSMBU) ExpiredNA 01/09/2009 0.90 NA 0.77
Taiwan Semi (TSM) 7/27/20068.70 03/03/2009 7.76 NA (0.78)
Direxion Financial Bull 3X Shares (FAS) 03/16/20095.09 03/19/2009 6.53 28.31 1.26
Direxion Financial Bull 3X Shares (FAS) 03/23/20095.94 03/23/2009 6.22 4.63 0.19
Direxion Financial Bull 3X Shares (FAS) 03/24/20096.45 03/24/2009 7.12 10.30 0.44
Direxion Financial Bear 3X Shares (FAZ) 03/26/200919.67 03/27/2009 19.91 1.22 0.05
Direxion Financial Bull 3X Shares (FAS) 03/30/20095.49 03/31/2009 5.20 (5.34) (0.23)
Realized Gain/(Loss) YTD-----2.62



  • % 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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