Sold The Entire BALT Position +15.6%

I sold out the entire BALT position for $6.22, a 15.6% gain. I followed the Fly into the position in December.

However, I have learned over the years not to get attached to positions that didn’t originate from my own ideas. This was the Fly’s grunt work, and while I liked the position when I did my own inspection of it, and am quite pleased with the gains, it doesn’t necessarily fit into the larger picture I’m painting here. There are bound to be blind spots I have to its intimate nature, and the variance it exhibits probably won’t mesh well with my other holdings.

With the market slowing down here, this adds 12% to my cash position, and is generally the right move.

I hope those of you still in BALT make a killing. Let it run to $10.