FAZ (15% of portfolio)
SRS (15%)
APWR (20%)
GU (15%)
NOV (15%)
Cash (20%)
*Pretty neutral overall position, with slight long bias.
*I have a larger emphasis on China (via APWR and GU positions) because the FXI ETF (proxy indicator for China) is acting stronger technically than other indices like the SPY or IWM. Besides both stocks have very little debt, lots of cash, and very promising futures for the next 5 years.
*FYI, tomorrow we have some more jobs data. Also the VIX is nearing 45 (an important level of support - if emotions can be quantified with support/resistance line :-) This 45 support line makes me wary of getting too long this market. We also have some more bad news from the Big Three, as Chrysler just told all its employees not to come back to work until January 19th.
*Also GGP just announced that it received another debt extension until February 12th 2009....LMFAO!!! An extra 3 months doesn't change the reality that GGP owes $22 billion dollars in debt over the next 4 years. GGP needs a 3 year credit extension, not 3 months. WTF? Ultimately, this isn't a "game changer" I am still content with my SRS position.
P.S. I will never mention FXP ever again on this blog...it is now the ETF "that shall not be named."
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