Message Font: Serif | Sans-Serif
 
No. of Recommendations: 0

As usual I will post the trades I make and some performance statistics. I will add a list showing all positions or all trades or some "background information" related to the trades occasionally.

What this "fund" is about is described here.

Print the post Back To Top
No. of Recommendations: 0

The fund has a new benchmark (see comment #313 here).

number of trades: 1790,
commission (1790 * 10): 15870.00,
current value of portfolio: 7104175.06,
cash: -3549305.26,
rel. change pre commission & fees: 5.99%,
rel. change post commission & fees (and rel. change): 4.55%,
rel. change of benchmark (3/8*VEU+1/4*SPY+1/4*IBB+1/8*EEM): -0.51%.

Print the post Back To Top
No. of Recommendations: 0

Relative changes of the benchmark components.

Vanguard FTSE All-World ex-US ETF (VEU): 0.87%,
SPDR S&P 500 ETF Trust (SPY): -1.55%,
iShares Nasdaq Biotechnology Index Fund (IBB): -4.22%.
iShares MSCI Emerging Markets Index Fund (EEM): 4.82%,

The fund was started more or less on March 8, 2010, so the relative changes posted  above are calculated for the period starting at the time of the market opening on March 8, 2010 and ending at the time of the market closing on September 17, 2010. I have ignored dividends so far, so the cash position is slightly less negative if dividend payments are included. Too lazy to check how dividends are treated by those benchmark component ETFs, hehe ...

Print the post Back To Top
No. of Recommendations: 0

rel. change post commission & fees (and rel. change)

rel. change post commission & fees

Print the post Back To Top
No. of Recommendations: 0

The currently "largest" positions.

88600 ATPG shares with break-even of around $13.68 (closed at around $12.22),
29300 EMC shares with break-even of around $18.54 ($20.57),
-3600 VMW shares with break-even of around $86.16 ($84.81),
87700 ANTH shares with break-even of around $3.14 ($2.85),
11600 QGEN shares with break-even of around $18.89 ($18.80),
2050 IBB shares with break-even of around $92.46 USD ($85.51).

Print the post Back To Top
No. of Recommendations: 0

I currently have an "open order" to buy 80000 ANTH shares (limit 2.95 USD, see comment #308 here). Bloomberg shows around 22.3 million shares outstanding, hehe ...

Print the post Back To Top
No. of Recommendations: 0

---------------

#250) On July 02, 2010 at 6:41 PM, portefeuille (99.95) wrote:

performance: -26.7%,?
3/8*VEU+1/4*SPY+1/4*EEM+1/8*IBB: -10.65%.

---------------

(from here)

Those are the relative changes of the fund post commission & fees and of the old benchmark for the period starting at the time of the market opening on March 8, 2010 and ending at the time of the market closing on July 2, 2010. The "current values" of those are (see comment #312 here)

performance: 4.55%,?
3/8*VEU+1/4*SPY+1/4*EEM+1/8*IBB: 0.62%.

All those numbers are more or less "unchecked" and as long as I don't have a secretary will remain so, I guess ...

Print the post Back To Top
No. of Recommendations: 0

I guess all this is just "A Virtual Fund Manager's Apology" (for all those annoying posts of the fund's trades) ...

A Mathematician's Apology

A Mathematician's Apology (pdf)

A Mathematician's Apology - Wikipedia

Print the post Back To Top
No. of Recommendations: 0

commission (1790 * 10): 15870.00

commission (1790 * 10): 17900.00

Print the post Back To Top
No. of Recommendations: 0

S&P 500 index (see this post).



enlarge

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

buy 120 ROG:VX, limit 135.50 CHF.

Print the post Back To Top
No. of Recommendations: 0

sell 35000 PARD, limit 0.495 USD,
sell 200 PLX, limit 8.40 USD,
buy 1400 VOW:GR, limit 81 EUR,
buy 900 VOW3:GR, limit 92 EUR.

Print the post Back To Top
No. of Recommendations: 0

Print the post Back To Top
No. of Recommendations: 0

buy 30 APH, limit 45.50 USD,
buy 600 FCG, limit 16 USD,
sell 60 FRX, limit 31 USD,
buy 600 GMXR, limit 5 USD,
buy 100 HK, limit 17 USD,
sell 200 IBB, limit 86.50 USD,
sell 25 IDX, limit 85 USD,
sell 300 INCY, limit 14 USD,
sell 45 INP, limit 70 USD,
sell 200 INSP, limit 7.60 USD,
buy 120 KWK, limit 13 USD,
sell 400 LUS:GR, limit 5.30 EUR,
buy 4000 MNTA, limit 16 USD,
sell 300 MOR:GR, limit 17.40 EUR,
sell 80 NOVN:VX, limit 55 CHF,
sell 190 NTAP, limit 48 USD,
sell 45 NZ, limit 25.70 USD,
sell 120 OCLR, limit 14.70 USD,
buy 400 PDLI, limit 5.40 USD,
sell 5000 PYMX, limit 0.94 USD,
buy 50 QEP, limit 31 USD,
sell 400 QGEN, limit 19.30 USD,
sell 80 QQQQ, limit 48.30 USD,
buy 450 QTM, limit 1.72 USD,
buy 130 RBCN, limit 23.70 USD,
sell 70 RHT, limit 39.05 USD,
sell 1500 RIGL, limit 8.56 USD,
sell 100 RIMM, limit 50.20 USD,
buy 2500 RPRX, limit 0.47 USD,
buy 200 SD, limit 5.50 USD,
buy 100 SGY, limit 14 USD,
sell 500 SMOD, limit 5.70 USD,
sell 250 SPWRA, limit 12.30 USD,
buy 70 SPY $90 December 2010 put options (SPY101218P00090000), limit 0.62 USD,
sell 400 SQNM, limit 7.10 USD,
sell 1200 STEC, limit 13.35 USD,
buy 80 SWN, limit 34 USD,
sell 400 TEF:SM, limit 18.20 EUR,
sell 40 TMO, limit 47.60 USD,
sell 120 TNDM, limit 13.05 USD,
sell 4500 TRBN, limit 4.52 USD,
sell 90 TRGT, limit 23 USD,
sell 200 VECO, limit 36.20 USD,
sell 800 VNDA, limit 6.75 USD,
sell 150 VPHM, limit 13.92 USD,
sell 1200 VVUS, limit 6.20 USD,
buy 1600 XNPT, limit 6.97 USD,
sell 400 XRTX, limit 16 USD,
sell 1100 YMI, limit 1.60 USD,
sell 1500 ZGEN, limit 9.74 USD,
buy 3000 ZLCS, limit 1.29 USD,
sell 1500 ZGEN, limit 9.74 USD.

Print the post Back To Top
No. of Recommendations: 0

so the cash position is slightly less negative if dividend payments are included.

and the performance is slightly better of course ...

Print the post Back To Top
No. of Recommendations: 0

buy 1400 NYT, limit 8.10 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 1500 ZGEN, limit 9.74 USD,
buy 3000 ZLCS, limit 1.29 USD,
sell 1500 ZGEN, limit 9.74 USD.

sell 1500 ZGEN, limit 9.74 USD,
buy 3000 ZLCS, limit 1.29 USD.

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

sell 400 BIOD, limit 5.50 USD,
sell 500 CHTP, limit 6.95 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 400 BIOD 5.73 USD.

sell 2000 ROSG, limit 1.19 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 20000 PARD, limit 0.54 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 1300 YMI, limit 1.68 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 200 XRTX, limit 16.67 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 200 XRTX 16.67 USD.

sell 150 VPHM, limit 14.58 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 150 VPHM 14.58 USD.

sell short (to open) 300 VMW, limit 87 USD.

Print the post Back To Top
No. of Recommendations: 0

sold short (to open) 300 VMW 87.42 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 80000 ANTH, limit 2.95 USD.

bought 30000 ANTH. cancel the rest of the order.

 

sell 50000 SLN:LN, limit 13.5 p
sell 500 CHTP, limit 6.95 USD
sell 2000 ROSG, limit 1.19 USD

cancel those orders.

 

sold 600 AEZS 1.47 USD,
bought 200 IRWD 10.57 USD,
sold 25 GOOG 492.50 USD,
sold 35000 PARD 0.505 USD,
sold 200 PLX 8.40 USD,
bought 1400 VOW:GR 104.01 USD (79.40 EUR * 1.31 USD/EUR),
bought 900 VOW3:GR 119.60 USD (91.30 EUR * 1.31 USD/EUR),
bought 600 FCG 15.65 USD,
sold 60 FRX 31.24 USD,
bought 600 GMXR 4.135 USD,
bought 100 HK 15.55 USD,
sold 200 IBB 86.50 USD,
sold 300 INCY 14.44 USD,
sold 45 INP 73.33 USD,
sold 200 INSP 7.60 USD,
bought 120 KWK 12.33 USD,
sold 400 LUS:GR 7.38 USD (5.63 EUR * 1.31 USD/EUR),
bought 4000 MNTA 14.83 USD,
sold 80 NOVN:VX 56.14 USD (56.65 CHF / 1.0091 CHF/USD),
sold 190 NTAP 49.49 USD,
sold 45 NZ 27.62 USD,
sold 120 OCLR 14.70 USD,
bought 400 PDLI 5.24 USD,
bought 50 QEP 29.31 USD,
sold 80 QQQQ 48.30 USD,
bought 450 QTM 1.72 USD,
bought 130 RBCN 23.70 USD,
sold 70 RHT 39.05 USD,
bought 2500 RPRX 0.47 USD,
bought 200 SD 4.68 USD,
bought 100 SGY 12.62 USD,
sold 500 SMOD 5.70 USD,
sold 250 SPWRA 12.30 USD,
bought 70 SPY $90 December 2010 put options (SPY101218P00090000) 0.62 USD,
sold 1200 STEC 13.35 USD,
bought 80 SWN 31.71 USD,
sold 400 TEF:SM 23.84 USD (18.20 EUR * 1.31 USD/EUR),
sold 40 TMO 47.60 USD,
sold 120 TNDM 13.05 USD,
sold 4500 TRBN 4.60 USD,
sold 90 TRGT 23.24 USD,
sold 200 VECO 36.20 USD,
sold 800 VNDA 6.75 USD,
sold 150 VPHM 14.00 USD,
bought 1600 XNPT 6.93 USD,
sold 400 XRTX 16 USD,
sold 1100 YMI 1.60 USD,
sold 1500 ZGEN 9.75 USD,
bought 3000 ZLCS 1.29 USD,
sold 20000 PARD 0.545 USD,
sold 1300 YMI 1.68 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 30000 ANTH.

bought 30000 ANTH 2.95 USD.

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

sell 40000 PARD, limit 0.565 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 120 AMAG, limit 21.45 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 120 AMAG, limit 21.39 USD.

sell 1400 ELN, limit 5.12 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 1400 ELN 5.13 USD.

sell 300 EXAS, limit 6.73 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 300 EXAS 6.73 USD.

buy 170 GXDX, limit 14.83 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 170 GXDX 14.82 USD.

sell 450 MDVN, limit 12.55 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 450 MDVN 12.57 USD.

sell 200 NVDA, limit 11.27 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 3000 VVUS, limit 7.10 USD,
sold 200 NVDA 11.28 USD.

sell 1000 VVUS, limit 7.30 USD,

Print the post Back To Top
No. of Recommendations: 0

buy 900 YHOO, limit 14.15 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 900 YHOO 14.14 USD.

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

DAX.



enlarge

 

EURUSD.



enlarge

Print the post Back To Top
No. of Recommendations: 0

buy to cover 200 VMW, limit 86.25 USD.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 200 VMW 86.25 USD.

Print the post Back To Top
No. of Recommendations: 0

EURUSD.



enlarge

Print the post Back To Top
No. of Recommendations: 0

buy 1000 ADBE, limit 28.60 USD in extended or regular trading.

bought 1000 ADBE 28.30 USD.

see comments #110,111 here.

Print the post Back To Top
No. of Recommendations: 0

buy 4000 BTA:AU, limit 0.99 AUD.

Print the post Back To Top
No. of Recommendations: 0

bought 4000 BTA:AU 0.92 USD (0.96 AUD * 0.9563 USD/AUD).

Print the post Back To Top
No. of Recommendations: 0

sold 400 SQNM 7.10 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 5000 AB1:GR, limit 3.25 EUR.

Print the post Back To Top
No. of Recommendations: 0

bought 5000 AB1:GR 4.32 USD (3.241 EUR * 1.3319 USD/EUR).

Print the post Back To Top
No. of Recommendations: 0

buy 800 CHTP, limit 5.70 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 250 BRCD, limit 6 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 250 BRCD 6.11 USD.

buy 1200 VICL, limit 2.60 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 1200 VICL 2.515 USD.

buy 2500 VICL, limit 2.10 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 10000 ANTH, limit 3.35 USD.

change that to

sell 8000 ANTH, limit 3.26 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 30 APH, limit 45.50 USD
sell 25 IDX, limit 85 USD
sell 300 MOR:GR, limit 17.40 EUR
sell 5000 PYMX, limit 0.94 USD
sell 400 QGEN, limit 19.30 USD
sell 1500 RIGL, limit 8.56 USD
sell 100 RIMM, limit 50.20 USD

cancel those orders.

 

bought 800 CHTP 5.43 USD,
sold 8000 ANTH 3.285 USD.

 

sell 5500 TRBN, limit 4.75 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 25000 ANTH, limit 3.42 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 900 VICL, limit 2.78 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 900 VICL 2.79 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 200 VMW, limit 86 USD.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 200 VMW 85.19 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 700 VICL, limit 2.65 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 700 VICL 2.64 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 1800 GXDX, limit 14 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 1800 GXDX 14.00 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 250 PGNX, limit 5.20 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 250 PGNX 5.22 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 50 RHT, limit 37.40 USD in extended or regular trading.

Print the post Back To Top
No. of Recommendations: 0

bought 50 RHT 37.25 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 25000 ANTH, limit 3.65 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 25000 ANTH 3.55 USD,
sold 25000 ANTH 3.80 USD.

sell 3000 ANTH, limit 4.22 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 3000 ANTH 4.24 USD.

sell 3000 ANTH, limit 4.72 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 3000 ANTH 4.75 USD.

sell 1000 ANTH, limit 5.13 USD.

 

---------------

a comment on "order execution" (also see comments #25 here and #53 here).

When I try to determine whether an "intelligent trader" would have been able to get a certain order executed (or partially "filled") and what the average price per share for the executed order would have been I look at the "order book" (if I have access. usually I can see at least part of it via brokerages) and the actual trades. I then throw in some "experience" to determine a "reasonable" price. The "intelligencent" trader I am assuming is simply supposed to enter the order in a way that it does not affect the "price movement" of the stock by too much. So it is rather a "clever" trader, not necessarily one with a high IQ, hehe ...

---------------

(from comment #6 here)

Print the post Back To Top
No. of Recommendations: 0

sold 40000 PARD 0.58 USD.

sell 20000 PARD, limit 0.655 USD.

Print the post Back To Top
No. of Recommendations: 0

sell short (to open) 400 VMW, limit 87.60 USD.

Print the post Back To Top
No. of Recommendations: 0

sold short (to open) 400 VMW 87.685 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 3000 ANTH, limit 4.37 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 3000 ANTH 4.34 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 20000 PARD, limit 0.655 USD.

change that to

sell 12000 PARD, limit 0.635 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 12000 PARD 0.638 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 700 VICL, limit 2.83 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 40 RHT, limit 39.80 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 40 RHT 39.88 USD.

sell 100 RHT, limit 40.15 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 4000 PARD, limit 0.66 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 4000 PARD 0.66 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 100 RHT 40.15 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 120 ROG:VX 137.05 USD (135.50 CHF / 0.9887 CHF/USD),
sold 700 VICL 2.83 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 600 VICL, limit 2.47 USD in extended or regular trading.

Print the post Back To Top
No. of Recommendations: 0

buy 600 VICL, limit 2.47 USD in extended or regular trading.

change that to

buy 500 VICL, limit 2.55 USD in extended or regular trading.

Print the post Back To Top
No. of Recommendations: 0

bought 500 VICL, limit 2.55 USD.

Print the post Back To Top
No. of Recommendations: 0

currently 56700 ANTH shares in the fund with break-even of around 2.46 USD.

Print the post Back To Top
No. of Recommendations: 0

the latest ifo survey results.

Ifo Business Climate Index even more friendly

---------------

Results of the September 2010 Ifo Business Survey

The Ifo Business Climate for industry and trade in Germany has again slightly improved in September. The firms are again more satisfied with their business situation than in the previous month. For the near future they continue to be optimistic although not quite as much as in August. The business high continues.

In manufacturing the business climate has hardly changed. The manufacturing firms assess their current business situation again more favourably than in August. Only with regard to the six-month business outlook they are less optimistic than before. The firms still see good prospects for exports, but no longer expect the fast expansion of past months. Their employment plans are marginally more reserved than in August, but lay-offs are generally not expected.

In retailing the business climate has brightened in the third consecutive month. The surveyed retailers assess their current business situation even better than ever before since the unification boom. They also remain as optimistic as before with regard to the business outlook for the coming six months. In contrast, the business climate in wholesaling worsened slightly. Survey participants still assess their current business situation and their outlook for the near future as favourable, but in the previous month their assessments were even slightly more positive.

The business climate in construction has brightened a bit. The firms consider their current business situation again somewhat more favourable than in the previous month. While business expectations deteriorated in civil engineering, they improved in commercial building. Overall, the firms consider their future business development unchanged.

Hans-Werner Sinn
President of the Ifo Institute for Economic Research at the University of Munich

---------------

 

Ifo Business Climate Germany - Results of the September 2010 Ifo Business Survey (24 Sept. 2010)  (pdf)

 



enlarge

 

The Ifo Business-Cycle Clock: A precision instrument for the analysis of economic activity

Print the post Back To Top
No. of Recommendations: 0

buy 450 MRK:GR, limit 64 EUR.

Print the post Back To Top
No. of Recommendations: 0

bought 450 MRK:GR 85.30 USD (63.76 EUR * 1.3379 USD/EUR).

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

sell short (to open) 500 VMW, limit 88.60 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 1200 EMC, limit 21.70 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 1200 EMC 21.70 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 250 EMC $25 January 2011 call options (EMC110122C00025000), limit 0.27 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 250 EMC $25 January 2011 call options (EMC110122C00025000) 0.27 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 6000 SAY, limit 4.50 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 6000 SAY 4.415 USD.

buy 3000 SAY, limit 4.22 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 4000 ATPG, limit 12.43 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 4000 ATPG 12.41 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 3000 PARD, limit 0.59 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 3000 PARD 0.59 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 1000 VVUS, limit 7.30 USD
buy 2500 VICL, limit 2.10 USD
sell 1000 ANTH, limit 5.13 USD

cancel those orders.

 

sold short (to open) 500 VMW 88.62 USD.

Print the post Back To Top
No. of Recommendations: 0

current value of portfolio (USD): 7523330.80,
cash (USD): -3669000.40,
rel. change pre commission & fees: 14.89%,
rel. change post commission & fees: 13.36%,
rel. change of benchmark (3/8*VEU+1/4*SPY+1/4*IBB+1/8*EEM): 1.98%.

yeay!

Print the post Back To Top
No. of Recommendations: 0

That's impressive.

Print the post Back To Top
No. of Recommendations: 0

It would be cool to be able to see the performance charted vs the benchmark since inception. 

What do you use to track your trades anyhow?

Nice work... 

Print the post Back To Top
No. of Recommendations: 0



enlarge


("normalised to 100 at the close of trading on March 5, 2010". benchmark = "3/8*VEU+1/4*SPY+1/4*IBB+1/8*EEM". the values for the fund are "post commission & fees". dividend payments were ignored (I think. not sure how the benchmark components handle dividend payments.). "non-adjusted close values" were taken from yahoo finance for the benchmark components and the fund prices are derived from performance data I have posted.)

 

not for the "faint of heart" the "fund", hehe ...

I "track" the trades in a spreadsheet and 2 yahoo finance "watchlists".

Print the post Back To Top
No. of Recommendations: 0

So far this "fund" thing has not done all that great. My portfolio has done alright, lately (see this post) ...

Print the post Back To Top
No. of Recommendations: 0

currently 92600 ATPG shares in the fund with break-even of around $13.63.

Print the post Back To Top
No. of Recommendations: 0

for those that wonder "what caused the sharp dip of the 'fund price' in early August".



enlarge

Print the post Back To Top
No. of Recommendations: 0

# 115



enlarge

Print the post Back To Top
No. of Recommendations: 0

The faint of heart lose money by watching this game play out daily. : ) 

In retrospect, do you have any regrets about the ATPG piece of the fund? 

Maybe a better way to ask is...has investing in ATPG changed your go forward approach at all?

 

Print the post Back To Top
No. of Recommendations: 0

#117 No, I think I have done alright with the ATPG position so far. I think it will be "in the green" pretty soon again ...

Print the post Back To Top
No. of Recommendations: 0

buy 12000 EMC, limit 23 USD,
buy 2500 GLCH, limit 1.65 USD,
sell short (to open) 1400 VMW, limit 85.50 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 900 AEI:GR, limit 9.50 EUR,
buy 140 BRCM, limit 35 USD,
sell 1800 BVB:GR, limit 1.42 USD,
sell 600 ITMN, limit 13.15 USD,
sell 1400 LOCM, limit 4.35 USD,
sell 170 ONXX, limit 27.25 USD,
sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.80 EUR in Xetra trading.

Print the post Back To Top
No. of Recommendations: 0

sold 85 DB "subscription rights" (ISIN: DE000A1E8H87) 5.48 USD (4.071 EUR * 1.3472 USD/EUR).

buy 300 CMT:CN, limit 0.55 CAD.

Print the post Back To Top
No. of Recommendations: 0

buy 120 ARMH, limit 21 USD,
buy 150 MLNX, limit 21 USD,
sell 270 JNPR, limit 29.40 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 3000 ATPG, limit 13.12 USD in extended or regular trading.

Print the post Back To Top
No. of Recommendations: 0

sell 3000 ATPG, limit 13.12 USD in extended or regular trading.

sold 1500 ATPG 13.17 USD (partial fill).

cancel the rest of the order.

Print the post Back To Top
No. of Recommendations: 0

sell 1800 BVB:GR, limit 1.42 USD

sell 1800 BVB:GR, limit 1.42 EUR

 

sell 1000 ATPG, limit 13.06 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 1000 ATPG 13.07 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 1000 ATPG, limit 13.26 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 1000 ATPG 13.265 USD.

sell 1000 ATPG, limit 13.37 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 1000 ATPG 13.38 USD.

sell 6000 ATPG, limit 13.45 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 6000 ATPG 13.51 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 1000 RJET, limit 8.22 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 1000 RJET 8.21 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 4000 ALNY, limit 12.70 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 4000 ALNY 12.63 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 3000 ALNY, limit 12.74 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 3000 ALNY 12.74 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 2000 ALNY, limit 12.61 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 2000 ALNY 12.585 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.90 EUR in Xetra trading.

 

sold 5500 TRBN 4.75 USD,
bought 12000 EMC 21.67 USD,
bought 2500 GLCH 1.62 USD,
sold short (to open) 1400 VMW 88.10 USD,
bought 900 AEI:GR 11.45 USD (8.50 EUR * 1.3472 USD/EUR),
bought 140 BRCM 33.94 USD,
sold 1400 LOCM 4.57 USD,
bought 300 CMT:CN 0.4935 USD (0.507 CAD / 1.0273 CAD/USD),
bought 120 ARMH 19.62 USD,
bought 150 MLNX 20.00 USD,
sold 270 JNPR 29.87 USD.

Print the post Back To Top
No. of Recommendations: 0

current value of portfolio (USD): 7601368.49,
cash (USD): -3695026.46,
rel. change pre commission & fees: 16.44%,
rel. change post commission & fees: 14.89%,
rel. change of benchmark (3/8*VEU+1/4*SPY+1/4*IBB+1/8*EEM): 1.46%.

Print the post Back To Top
No. of Recommendations: 0

buy 40 SPY $95 December 2010 put options (SPY101218P00095000), limit 0.93 USD.

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

largest "long positions".

82100 ATPG shares,
42500 EMC shares,
2850 VOW:GR shares & 1180 VOW3:GR shares.

only "short position" (not counting the put options).

-5800 VMW shares.

Print the post Back To Top
No. of Recommendations: 0

bought 40 SPY $95 December 2010 put options (SPY101218P00095000) 0.89 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 1700 NTAP, limit 51.10 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 1700 NTAP 51.00 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 120 JAZZ, limit 10.80 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 120 JAZZ 10.84 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 3000 SAY, limit 4.22 USD
sell 170 ONXX, limit 27.25 USD
sell 1800 BVB:GR, limit 1.42 EUR

cancel those orders.

 

sold 600 ITMN 13.18 USD.

Print the post Back To Top
No. of Recommendations: 0

rel. change post commission & fees: 14.8%,
rel. change of benchmark (3/8*VEU+1/4*SPY+1/4*IBB+1/8*EEM): 2.08%.

Print the post Back To Top
No. of Recommendations: 0
Print the post Back To Top
No. of Recommendations: 0

sell 4000 ATPG, limit 13.80 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 4000 ATPG 13.84 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 10000 SAY, limit 4.10 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 10000 SAY 4.07 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 3000 SAY, limit 4.02 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 3000 SAY 4.02 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 50 EQT, limit 36.40 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 50 EQT 36.36 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 800 BDSI, limit 3 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 800 BDSI 3.00 USD.

sell 140 CML, limit 18.98 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 140 CML 18.99 USD.

sell 200 BP (1200 BP/:LN), limit 39.90 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 1200 BP/:LN (200 BP) 6.65 USD (39.90 USD / 6 ˜ 4.2139 GBP * 1.5781 USD/GBP).

Print the post Back To Top
No. of Recommendations: 0

sell 5000 ANDS, limit 2.28 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 5000 ANDS 2.285 USD.

Print the post Back To Top
No. of Recommendations: 0

fund: 15.27%, benchmark: 1.84%.

Print the post Back To Top
No. of Recommendations: 0

buy 2500 EXQ:DC, limit 6.5 DKK.

Print the post Back To Top
No. of Recommendations: 0

buy 700 ONCOB:BB, limit 2.20 EUR.

Print the post Back To Top
No. of Recommendations: 0

Jakarta Composite Index.



enlarge

Print the post Back To Top
No. of Recommendations: 0

sell 30000 SLN:LN, limit 12.20 p,
sell 20000 SLN:LN, limit 12.90 p.

Print the post Back To Top
No. of Recommendations: 0

buy 200 EPOL, limit 32 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 160 EPU, limit 43 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 30000 SLN:LN 0.1945 USD (0.1227 GBP * 1.585 USD/GBP).

Print the post Back To Top
No. of Recommendations: 0

buy 4000 XRTX, limit 15 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 4000 XRTX 14.855 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 800 VMW, limit 86 USD.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 800 VMW 85.465 USD.

Print the post Back To Top
No. of Recommendations: 0

sell short (to open) 400 VMW, limit 85.98 USD.

Print the post Back To Top
No. of Recommendations: 0

sold short (to open) 400 VMW 85.985 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 8000 MRNA, limit 2.45 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 400 VMW, limit 85.63 USD.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 400 VMW 85.58 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 5000 ANDS, limit 2.34 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 700 VMW, limit 85.10 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 20000 SLN:LN 0.2074 USD (0.1305 GBP * 1.5895 USD/GBP),
bought 8000 MRNA 2.39 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 2500 EXQ:DC 1.0485 USD (5.75 DKK / 5.484 DKK/USD),
bought 700 ONCOB:BB 2.6495 USD (1.95 EUR * 1.3587 USD/EUR),
bought 200 EPOL 32.00 USD,
bought 160 EPU 42.12 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 5000 ANDS 2.345 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.80 EUR in Xetra trading
sold 85 DB "subscription rights" (ISIN: DE000A1E8H87) 5.48 USD (4.071 EUR * 1.3472 USD/EUR)
sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.90 EUR in Xetra trading

The minimum order size on Xetra is 100 subscription rights.

INTRODUCTION OF SUBSCRIPTION RIGHTS ON DBK ON 22.09.10

 

So, change 

sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.80 EUR in Xetra trading

to 

sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.80 EUR in Frankfurt trading,

change

sold 85 DB "subscription rights" (ISIN: DE000A1E8H87) 5.48 USD (4.071 EUR * 1.3472 USD/EUR)

to 

sold 85 DB "subscription rights" (ISIN: DE000A1E8H87) 5.54 USD (4.12 EUR * 1.3456 USD/EUR)

and change

sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 3.90 EUR in Xetra trading

to

sell 85 DB "subscription rights" (ISIN: DE000A1E8H87), limit 1 EUR in Frankfurt trading.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 700 VMW 85.10 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 1000 TLS:AU, limit 2.80 AUD.

Print the post Back To Top
No. of Recommendations: 0

buy 150 RTP, limit 60 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 1000 TLS:AU 2.55 USD (2.63 AUD * 0.9698 AUD/USD).

Print the post Back To Top
No. of Recommendations: 0

buy 4000 ACAD, limit 0.94 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 260 SLXP, limit 42 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 700 ARRY, limit 3.15 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 200 ITMN, limit 13.55 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 2000 SNSS, limit 0.38 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 600 HPQ, limit 40.95 USD in extended or regular trading.

Print the post Back To Top
No. of Recommendations: 0

bought 600 HPQ 40.90 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 2000 SNSS, limit 0.38 USD.

change that to

buy 2000 SNSS, limit 0.33 USD in extended or regular trading.

Print the post Back To Top
No. of Recommendations: 0

bought 2000 SNSS 0.322 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 80 INDL, limit 52.50 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 100 REP, limit 27.40 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 100 INP, limit 78.30 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 100 INP 78.17 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 80 INDL, limit 52.50 USD.

change that to

buy 50 INDL, limit 54 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 50 INDL 53.50 USD.

Print the post Back To Top
No. of Recommendations: 0

sell short (to open) 400 VMW, limit 85.60 USD.

Print the post Back To Top
No. of Recommendations: 0

sold short (to open) 400 VMW 85.70 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 500 VMW, limit 85.10 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 500 VMW 84.86 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 140 INP, limit 78 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 140 INP 77.87 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 12000 FOLD, limit 3.70 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 4000 FOLD, limit 3.73 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 4000 FOLD, limit 3.73 USD.

bought 1000 FOLD 3.73 USD (partial fill).

cancel the rest of the order.

Print the post Back To Top
No. of Recommendations: 0

buy 10000 CFW, limit 0.33 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 85 DB "subscription rights" (ISIN: DE000A1E8H87) 4.673 USD (3.40 EUR * 1.3744 USD/EUR),
bought 4000 ACAD 0.92 USD,
bought 260 SLXP 39.87 USD,
sold 700 ARRY 3.27 USD,
sold 200 ITMN, limit 13.74 USD,
sold 100 REP 27.40 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 500 VMW 84.86 USD.

bought to cover 500 VMW 84.86 USD.

Print the post Back To Top
No. of Recommendations: 0

0.9698 AUD/USD

0.9698 USD/AUD

Print the post Back To Top
No. of Recommendations: 0

fund: 14.52%, benchmark: 2.53%.

Print the post Back To Top
No. of Recommendations: 0

buy 60 009150:KS, limit 130000 KRW,
buy 150 ADBE, limit 26.80 USD,
buy 500 AEZS, limit 1.36 USD,
sell 1800 AIXG, limit 28.70 USD,
sell 2000 ALTH, limit 4.60 USD,
buy 700 APPY, limit 0.60 USD,
sell 150 ATLS, limit 29 USD,
sell 6000 ATPG, limit 13.45 USD,
sell 170 AU/:LN, limit 1800 p,
sell 60 BAS:GR, limit 46 EUR,
sell 300 CDCS, limit 6.10 USD,
sell 250 CIE, limit 9.30 USD,
sell 200 COCO, limit 6.70 USD,
sell 200 CRAY, limit 6.75 USD,
sell 230 CRNT, limit 9.80 USD,
sell 150 EBS, limit 17 USD,
sell 400 ELN, limit 5.70 USD,
sell 300 F:IM, limit 11.15 EUR,
sell 200 FCG, limit 16.60 USD,
sell 2000 FOLD, limit 3.90 USD,
sell 130 FXI, limit 43.95 USD,
sell 400 GMXR, limit 4.93 USD,
sell 800 GXDX, limit 14.49 USD,
sell 300 IBN, limit 51.12 USD,
sell 270 IGN, limit 29.91 USD,
sell 300 ISPH, limit 6.03 USD,
sell 400 ISTA, limit 3.95 USD,
sell 260 NKTR, limit 14.87 USD,
sell 90 PANL, limit 24.15 USD,
sell 150 RHT, limit 41.85 USD,
sell 300 SD, limit 5.45 USD,
sell 420 SPWRA, limit 13.70 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 500 VMW, limit 82.10 USD.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 500 VMW 82.08 USD.

Print the post Back To Top
No. of Recommendations: 0

buy to cover 500 VMW, limit 82 USD.

Print the post Back To Top
No. of Recommendations: 0

bought to cover 500 VMW 81.90 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 2000 VIP, limit 14.42 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 2000 VIP 14.41 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 500 TSRX, limit 4 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 1000 TSRX, limit 3.65 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 12000 FOLD, limit 3.70 USD.

bought 7000 FOLD 3.70 USD (partial fill).

cancel the rest of the order.

Print the post Back To Top
No. of Recommendations: 0

bought 500 TSRX 3.80 USD.

 

buy 1000 TSRX, limit 3.65 USD.

change that to

buy 3000 TSRX, limit 3.80 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 3000 TSRX 3.80 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 10000 CFW 0.30 USD,
bought 60 009150:KS 110.61 USD (125000 KRW / 1130.10 KRW/USD),
bought 150 ADBE 26.14 USD,
bought 500 AEZS 1.32 USD,
sold 1800 AIXG 28.87 USD,
sold 2000 ALTH 4.73 USD,
bought 700 APPY 0.4896 USD,
sold 150 ATLS 29.72 USD,
sold 6000 ATPG 13.50 USD,
sold 170 AU/:LN 29.03 USD (18.38 GBP * 1.5794 USD/GBP),
sold 60 BAS:GR 64.50 USD (46.87 EUR * 1.3761 USD/EUR),
sold 300 CDCS 6.34 USD,
sold 250 CIE 9.50 USD,
sold 200 COCO 7.15 USD,
sold 200 CRAY 6.90 USD,
sold 230 CRNT 9.90 USD,
sold 150 EBS 17.64 USD,
sold 300 F:IM 15.52 USD (11.28 EUR * 1.3761 USD/EUR),
sold 200 FCG 16.60 USD,
sold 800 GXDX 14.57 USD,
sold 300 IBN 51.53 USD,
sold 300 ISPH 6.07 USD,
sold 400 ISTA 4.09 USD,
sold 90 PANL 24.15 USD,
sold 300 SD 5.91 USD,
sold 420 SPWRA 13.71 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 200 6665:JP, limit 945 JPY.

Print the post Back To Top
No. of Recommendations: 0

bought 200 6665:JP 11.09 USD (926 JPY / 83.49 JPY/USD).

Print the post Back To Top
No. of Recommendations: 0

buy 800 APPY, limit 0.41 USD,
sell 2800 BVB:GR, limit 1.29 EUR,
sell 430 BP (2580 BP/:LN), limit 40.10 USD,
buy 500 EPI, limit 28 USD,
sell 20 FFIV, limit 108.70 USD,
sell 10 GOOG, limit 512 USD,
sell 250 HGSI, limit 29.15 USD,
sell 300 ING, limit 7.05 USD,
sell 300 ITMN, limit 13.12 USD,
sell 120 JNPR, limit 30.65 USD,
sell 200 MDVN, limit 12.28 USD,
sell 11000 MIPI, limit 1.24 USD,
sell 200 OGXI, limit 14.25 USD,
sell 3000 RIGL, limit 8.15 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 250 EXAS, limit 7.51 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 250 EXAS 7.53 USD.

Print the post Back To Top
No. of Recommendations: 0

sell short (to open) 1000 VMW, limit 84 USD.

Print the post Back To Top
No. of Recommendations: 0

sold short (to open) 1000 VMW 84.87 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 1500 PBTH, limit 6.43 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 6000 CRME, limit 6.05 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 6000 CRME 5.955 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 60 SPY $95 December 2010 put options (SPY101218P00095000), limit 0.65 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 60 SPY $95 December 2010 put options (SPY101218P00095000) 0.64 USD.

Print the post Back To Top
No. of Recommendations: 0

sold 1500 PBTH 6.43 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 250 CLDX, limit 5.04 USD.

Print the post Back To Top
No. of Recommendations: 0

sell 300 STEC, limit 13.47 USD.

Print the post Back To Top
No. of Recommendations: 0

buy 50 SPY $90 December 2010 put options (SPY101218P00090000), limit 0.40 USD.

Print the post Back To Top
No. of Recommendations: 0

bought 50 SPY $90 December 2010 put options (SPY101218P00090000) 0.395 USD.

Print the post Back To Top