We sold in Sept 05 and moved into Candadiam Royalty Trusts just last November to receive montly stipends. We are short AMBAC (ABK) at 95, Royal Caribbean (RCL)at 42.50 via long term puts to avoid having to pay the dividend. We see great weakness in both issues due to the housing market corrosion and it’s spilling over into the economy. We are also taking a hard look at shorting Whirlpool at 111. It is at or near it’s high like the other two and we see great risk to the downside in today’s climate.
