I am clawing back some gains in this marketplace, with the bulk of the progress spearheaded by the action surrounding Weibo. I did not take a position in Weibo but my plan of attack on SINA began to fruit and I took a nice trade in Twitter. My book is now down a mere 11% year to date.
The question now is whether I should be raising cash. This is my third month of seeing many options vanish from my portfolio and good riddance to the lot of them. My book is clean now and I intend to sell more of it. But for now it stands as follows:
Largest-to-smallest: LO, TWTR, AMBA, SINA, CREE, RVLT, DDD, YGE, FCEL, OESX, TSLA, and GRNH
I plan to peak out at 12 positions but may go as far as 15 if I simply cannot close a position. I am questioning some of my favorite plays for their merit.
Futures trading went well, my algo traded well too. This was day two of all systems running in harmony and my system showing me tons of confidence. I will continue testing however into the more aromatic sessions as the month progresses and “Sell in May” becomes a discussion.
I am in no rush. I can tell you this, with confidence, if I had some sort of urgency for keeping a roof on my head and food in my belly, then I would certainly fail. One must wear a few hats to properly pursue their dreams, IMHO.
Have a great Easter holiday and enjoy a working day with the market closed. These working days always blow my mind, the amount of work I am able to complete with the market closed.