I’ll eat crow.
My positions as of yesterday were good and profitable. Today, things are different and I am adjusting to what I see as a new narrative. Now I could be proven wrong again, should things revert on Monday; but if I’m being honest with my workflow — this is what I see now.
Oil stocks higher
High yield bonds higher
Leverage loans bonds higher
Small caps higher
With all of that being real and tangible, I had no choice but to close out all of my shorts.
Here were my losses:
The only outsized position there was DRV — at 10% of holdings. Total loss on portfolio was 1.26% on these holdings.
My gold positions are down too — but I will hold those until next week.
NOTE: With cash, I bought ZEN, MDB, BL, SIVB, BRZU and FCX. Cash is now 5%.If you enjoy the content at iBankCoin, please follow us on Twitter