MCM Macro Intraday Trades, 1/3/08...

Stocks Discussed: AN, and TCO

Another solid day to be booking gains in selective shorts that are underperforming an already ominous tape... Always trade from a position of financial and mental strength.

MCM Trades/Fades
1. covering all my Autonation (AN), again, on weakness today, $14.67... with the stock down another 3% here intraday, making a fresh 4 year low, its as good a time as any to realize another gain here on the short side. Reshort it on up days; Lampert is in trouble with this asset for the foreseeable future. The state of Florida is in a consumer recession, and their new and used car market gets worse by the day. I realize their concentrated holders could/should have some "edge" here - in fact, they better, because this is one of the ugliest balance sheets i see in the land of US Consumer Cyclicals.

2. covering all my Taubman Centers (TCO), $47.86... this stock is also down another 3% here as i type this note, and its down over 9% from where Mr Taubman attempted to convince the Street that his 2008 earnings targets were going to be met, miserably under performing a miserable market - not good for moral. I think that the late John Locke once explained this type of chief executive officer guidance in his definition of a "mad man": 'those reasoning correctly from erroneous premises'.

Thanks again in advance for all of your constructive research feedback,
KM
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Closed Out Positions (realized gains in green, losses in red)

Long
EWH (bought 20.70, sold 21.35) = +3.1%
BBY (bought 46.60, sold 49.40) = +6.0%
MLHR (bought 26.70 , sold 27.65) = +3.9%
HOG (bought 45.10 , sold 49.96 ) = +10.8%
EAT (bought 21.54, sold 22.44) = +4.2%
EBAY (bought 31.70, sold $34.91) = +10.1%
TOL (bought 22.30 , sold 21.51) = - 3.5%
EWH (bought $22.73. sold 21.98) = - 3.2%
COST (bought 69.67, sold 68.74) = -1.3%
RSX (bought 49.32, sold 51.36) = +4.0%
HOG (bought 48.20, sold 46.55 ) = - 3.4%
KGC (bought 17.33, sold 17.74) = +2.4%
GLD (bought 78.60, sold 82.69) = +5.2%
TIP (bought 104.68, sold 106.64) = +1.9%

Short
RIMM (short 113.90, cover 111.60) = +1.0%
DAVE (short 14.24 , cover 13.60) = +4.5%
DLTR (short 28.51, cover 26.47) = +7.2%
HTZ (short 19.29, cover 18.58 ) = +3.7%
TGT (short 57.93 , cover 59.04 ) = - 1.9%
SPG (short 90.60, cover 94.10) = -3.9%
LIZ (short 25.58, cover 24.19) = +5.4%
BKC (short 26.74 , cover 25.80 ) = +3.5%
EWP (short 68.03, cover 67.47) = -0.82%
HAS (short 27.51 , cover 26.35) = +4.2%
DLTR (short 29.52, cover 28.18 ) = +4.5%
CPB (short 35.62, cover 36.76 ) = -3.2%
IPAR (short 20.48 , cover 16.47) = +19.6%
TLF (short 4.04, cover 3.27) = +19.1%
AN (short 16.99, cover 16.70) = +1.7%
WYN (short 28.19, cover 27.39) = +2.8%
MCD (short 63.35, cover 61.22) = +3.4%
DLTR (short 29.46, cover 27.66 ) = +6.1%
MA (short 219.44, cover 212.72) = +3.1%
SHLD (short $112.51, cover 104.37 ) = +7.2%
BKC (short $28.02, cover 27.70 ) = +1.3%
EWW (short 59.40, cover 55.83) = +6.0%
GE (short 37.60, cover 36.48 ) = +3.0%
JBX (short 28.49, cover 25.74) = +9.6%
BAGL (short $20.15, cover 16.43) = +18.5%
KSS (short 52.64, cover 45.37) = +13.8%
TLF (short 3.25 , cover 3.05) = +6.2%
TGT (short 55.23, cover 49.99) = +9.5%
RIMM (short 103.53, cover 116.98) = - 12.99%
HAS (short 27.15, cover 25.80) = +4.97%
BONT (short 12.26, cover 9.49) = +22.6%
WYN (short 25.01, cover 23.31) = +6.8%
NKE (short 67.01 , cover 64.18) = +4.2%
ATML (short 4.59, cover 4.28) = +6.8%
EWY (short 66.06, cover 61.70) = +6.6%
CAT (short 71.49, cover 70.23) = +1.8%
AN (short 15.49, cover 14.67) = +5.3%
TCO (short 52.73, cover 47.86) = +9.2%

MCM Disclosure/Disclaimer: This email and/or blog is for a select group of my friends, and represents a beta test of an idea that i am incubating. My email and blog writings are prepared without regard to the unique circumstances or goals of those who read them. They do not provide investment advice that should be specifically acted upon without considering the all encompassing range of investment information and/or considerations available in the public domain and/or without considering all appropriate professional advice. This should not be considered a solicitation to buy or sell any security or to participate in any investment strategy. The information and editorials in these writings are not necessarily complete or perfectly accurate and are not guaranteed by Keith McCullough or MCM. This information is protected from disclosure and constitute opinions only as of the date of their issuance. Opinions are subject to change without notice, and Keith McCullough or MCM do not accept any liability whatsoever for any losses estimated to be attributable to any use of this content. Keith McCullough and/or McCullough Capital Management, Inc. likely owns and/or is currently trading in all of the securities cited in these emails and/or blogs.