Ended the week with a small gain of 34bps but ended the month of July with a net loss of 297 bps. Not at all good.

Primary culprit was my new attempt at shipping. Tried some positions in DAC, ZIM, ATCO and INSW. Shipping is extremely volatile and shareholder and management's interests are frequently at odds. Some people with deep industry knowledge, like J Mintzmeyer, may be able to make money in these names but I never have and I should not have made this latest attempt. I swear, I've learned my lesson. But then again?? maybe not. I've seen a ton posts touting LNG (LNG declared a spec $1 divi for SH of record on 8-9 and it has earnngs on 8-4) and SBLK (shares are way down from their $150 million ATM announcement on 7-1. Earnings on 8-5).

I plan to watch both from the sidelines but I have to admit that LNG looks especially interesting.

Top 10 holdings as of 7-30-21

Fid Govt MM 5.519%
ENPH 4.910%
TAN 3.365%
BHF 3.345%
WPC 3.163%
AROC 2.916%
UNIT 2.751%
AMC 7/25 bonds 2.641%
MO 2.511%
UNTC 2.460%
Top 10 Holdings as of 7-30-2021

As you can see, I moved a significant amount of cash to ENPH. Currently $189.60. If it stays above $180 by Aug 20, I'll have a very nice payday. I also reduced my AMC bond holdings.

I plan to continue to reduce a couple of my reopening trades including EPR and my AMC 2025 bonds.

Both of my gas compression companies, AROC and CCLP indicated it would be a longer haul to significant gains. Lagging E&P spending in the US has limited the demand for gas transmissions not only for export but also for building inventories in the US. Both co.s' indicated low utilization rates for their assets. I don't think I need both of these names and plan to roll out of my CCLP shares sometime this week.

Ton of earnings next week starting with FYBR and SPG on Monday.

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