A very stupid broker I once knew used to say “I am making lateral moves” to the boardroom, whenever he did a bunch of trades. Keeping with that comedic tone, I swapped out of some of my RPTP and tripled my position in AREX.
With the polar vortex freezing the noses and feet of America, I am bullish on natty here and less bullish on biotech hand grenades, in light of the risk off environment. In other words, take the bounces to reduce risk.
UPDATE: I sold out of the remainder of my BALT.