I couldn’t bring myself to sell all the way to 20% cash. The waterfall left too many of my purchases underwater still and the hope of follow through pins me to my seat.
But I took quick profits in HCLP, VOC, BAS, and SXCP (I still own all four names, I just pared down sizing) ranging from 5-12%, and then I completely sold my BTU position for a 22% loss. That will lower the tax bill. I like BTU but it’s time to start thinking of April.
Despite having little cash, this lowers my risk profile substantially. The margin was worth it and if the oil and gas space has any sort of meaningful follow through, I’ll be back at new highs by Thanksgiving.