Position Update (More Cash)
Good afternoon pen pals, this market sucks balls. You can’t be mad at the markets for being indecisive. You have institutions forced to hold positions, a weary retail base, and bow tie wearing cooks calling for the end of days. Put on top of that a throbbing red cherry bomb, European leaders, and you have a sundae best suited for blowing your teeth out the back of your head.
Then you have the chartists, the market profilists, the Elliot Wavests, and the technicians all looking at choppy charts going nowhere. They’re in cash. No mo momo. Thus we have our summer trading range. Hated on the way up, cheered on the way down…at least on twitter. The key to navigating this market environment, or any market environment for that matter, is to never impose your expectations on the market. Instead analyze and manage risk. Know the potential ranges a stock or ETF may move in a given day, where your trade is “wrong” and define some targets (time or price).
I upped cash today. I sold OPEN, P, and GSVC. OPEN and P I could buy back as soon as tomorrow. GSVC…..TBD.
Current holdings after the bell, by weight: EUO TRIP ADS YELP and VHC
CASH 55% — AWK 6%
2 Responses to Position Update (More Cash)
$GSVC is a utter disaster. Isn’t their NAV around $14/share?!? Hasn’t $FB rebounded from the lows (albeit, $FB only makes up 4% of their portfolio, but, that didn’t stop it from tanking with $FB)? What is holding this down? Short interest has never been higher.
Hot money from two secondaries ass ramming the bid E’RY DAY E’RY DAY.