Good Morning

Ahh, I feel much better now. I apologize to you for my coarse behavior over the past 9 months. You see, I was rather agitated. Such is not usually my vocation, but, well…everything last year went so wrong.

I should not have to point out that, in my first year counted amongst the ranks of iBC Contributors, I had high hopes of grand slams. And I got them, early on. But in the stock market, your grand slam is never safe. It can always be called out.

Watching my claim to victory get wrenched from me like that last year was almost more than I could bear. The shame!

But now, all is forgiven.

I sold TVIX this morning up 20% on the net position. That added about .5% to my annual performance this year; not bad for such a small stake. But the product is rotten. Stay away from it.

I wish I might have held onto SCO another two days, sure, but given the size of my net energy shorts, something had to go. And I even got out of the oil half of the trade with small profits – so 2011 was not a complete waste, I suppose.

(No, it really was a complete waste…)

So all that remains is to hold ERY. And here I am torn – ERY is quite a large position, so I may have to scale it back today. I don’t want to go into the weekend overly exposed, because I believe that “something must be done.”

But I also don’t want to hit Monday and have a meltdown materialize with no ponies in the race.

My cash position stands around 20-25%.

Now, let there be no more hostility between us, friends. Enjoy your weekend.

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