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The S&P 500 is impressive in holding above yesterday’s highs. I took out the full $SDS position yesterday as a short-term insurance policy, and so far I have paid a nice little premium for holding it. Just now, I sold 1/2 of my position, and will likely sell out of the rest by the closing bell, should this rebound stick.
All trades are timestamped inside The PPT.
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TOTAL PORTFOLIO:
EQUITIES/ETF’s: 48%
- LONG: 44% ($ATPG $DDS $HMIN $MSTR $RGS $SHLD $WPRT)
- SHORT: 4% (Long $SDS)
CASH: 52%
I prefer to keep my hedges till tomorrow, simply because Thursday has been the worst day of the week in the past 3 months.
Hmm….interesting.
There’s also lots of data coming out of China overnight (gdp, cpi, ppi) which might move things. Frankly, this snap back is AMAZING!! Nothing stops the buying.
Yeah, I’d like to cut loose some under-performers, but at this rate they’re not much of a drag.
It’s a testament to the lunacy of the past month that I can get my arms… (well, my stumps!) blown off by yet another biotech this morning and still close green today.
looking forward to 12631.
i read your blog to feel your cadence. its superb, imho.
best wishes.
jg, asshole-dip-buyer in waiting
Hahahah. Thanks jungle. You are top shelf.