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Continuing with my strategy of a hedged portfolio, with an overweight cash position, I made two trades today:
- I bought a 1/2 position in $QID, an ultra short technology ETF.
- I bought my final lot in $GMXR. I now have a full position in the name.
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TOTAL PORTFOLIO:
EQUITIES (Including ETF instruments):49%
- LONG: 37% ($APKT $LULU $CRM $GMXR $ISH $DECK $THOR)
- SHORT/HEDGED: 12% ($TLT $TZA $QID)
CASH: 51%
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Please remember to respect risk, use stop losses, and do your own homework. Otherwise, you may have to go see “The Special Man.”
[youtube:http://www.youtube.com/watch?v=XI7jC57GuZM 450 300]
I think you need to update your % long number. On GMXR, I’m surprised you didn’t get stopped out of that one…there must’ve been a point where it was down over 10% from your basis. What made you hold on?
Good question–I came close to stopping out (I have a mental stop on that one). My plan was to stop out should it have convincingly lost $7. However, after four days down on weak, declining volume, I still like the setup as a bottoming out pattern. The buy volume that the stock has seen over the past month is encouraging.
So, should it lose $7 again, I am out.
Love the posts. I really enjoy having a diversity of styles around here. Right now I’m trying to improve my shorter term game, but since I trade multiple timeframes, it helps immensly to watch swing trades being put on and managed. Thanks again.
Thanks, Yogi. Still a tough market. As you can tell, I am not being hyper aggressive here.
I love that first picture.. and that video is just, well, messed up LOL.
Great stuff Chess. I’m also long TZA @6.99 (should’ve sold yesterday for a nice gain but didn’t. Held instead and now I’m sitting even) DXD and SDS. Still feels like there is one big drop kick in the nuts waiting for us just around the corner, so I refuse to sell my short ETF’s, but who knows with this F’d up market. BTW, I may have missed you talking about it, but if you get a chance, what are you thoughts on Gold?
Love the Blog as always.
Thanks
Same position here. I should have sold my TZA yesterday but instead held on to it and now I”m back to square one. I’m planning on adding to this position very soon. Monday could go either way. Today was just a rest period after 4 days of down days.
You always have the coolest pictures 🙂
I’ve been trying a few longs here and there myself, but not much success so far. I still have 40% cash for now, and still holding VXX.TO.
Chess,
I don’t think the reverse split will do anything to the EFTs providing that the long term outlook still remains bearish. I don’t see how any bear ETFs can go to zero in a bear market. History shows that TZA was trading in the triple digits when the markets were at it’s lowest number for the year.
C&W
Awesome picture, still trying to figure out its meaning? White with the storm trooper and Caesar conscious looks in control of the game, but from the looks of it he was just handed a loss piece, and is giving the light bulb the middle figure over it. After examining the board, it looks like whose ever turn is next rules the game and could finish it off with in five turns. HOWEVER, WHAT DOES IT MEAN? If we relate it to the market it would mean who ever controls next week could rule the market fore qutie sometime. Always a pleasure to see you blog
That’s not Caesar, it’s Michelangelo’s David!
Virtue vs. stealth?
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