BGCP: My Smokin' Hot New Position

I didn't exactly close the week laughing all the way to the bank, but I did make some good moves. Thanks to Franc... I'm using USD/CHF as a confirmation to my equities trading.

The market's clearly saying: Take this, King Bernanke! We're going to continue to dance... and sing... locally, or globally. Notice the Shanghai Composite Index is above 3000 again and Nikkei is above 10,000, as is DJIA.

I took this as an opportunity to add a hopefully smokin' hot new position to my portfolio. A very warm hello to BGCP, which has positive EPS and ROE. It's currently trading at a Price/Sales ratio well below 1. The real reason I decided to get into this position at this particular moment of my timeline is I noticed that its earnings announcement is on 23 February 2010, which pretty much means guaranteed action - price action, of course. It has 2.5 times more cash than debt and a dividend yield of about 7.62%. Beta is much lower than I'd like, but at one point pre-Lehman, it was trading above $20. I got in at $4.20 with a very small position.

My boss told me my trading ego's getting really big. I didn't even really notice.

I'll try to be more cautious, but my portfolio rebalancing is paying off. I now actually have some positions that are showing small profits, which although minor, make me OHD (One Happy Diva). I mean, even BNHNA bounced back slightly today.

Remember... BX earnings announcement is on 25 February 2010.
IPG earnings announcement is on 26 February 2010.

I wish my fellow Happy Shiny Forex Traders some more toe-curling two hour massages - or at the least Wake the Neighbours type profits...