Fundamental Analysis » Bookkeeping: Closing Sterlite Industries (SLT) & DryShips (DRYS)

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Bookkeeping: Closing Sterlite Industries (SLT) & DryShips (DRYS)

I am closing the last Indian position out with the sale of miner Sterlite Industries (SLT) - much like the sales of the Indian banks last week (which immediately went up because they are “financials”) I think this will be a “poor” decision over a 5 year time horizon but over the next 6 months, I have no conviction. In a broader portfolio sense I have absolutely no feel what this market wants to do - it simply seems like a market beholden to financial writeoffs versus oil prices and almost nothing else matters. It is very difficult to position a portfolio for anything longer than daytrades in this market so I am going to raise some cash, and once some trends fall into place that last longer than a week, we’ll redeploy. This is not a market that plays into my strengths and short of turning the portfolio over 100% every 6-7 days it’s not an environment for investors; only very short term traders. So more cash for now and all about time horizon. I am willing to let go merchandise I like for the 3-5 year time frame because the 3-5 week or 3-5 month time frame is completely vague….
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