There wasn’t much need to, but I took profits in the RGR and BAS shares I most recently purchased on the last “selloff”. The RGR shares were bought on 4/4 for $48.03 and the BAS shares were bought on 4/26 for $13.03.
I unloaded them for $50.78 and $13.98, respectively.
I also added to my SCO hedge for $37.30.
Even if I wasn’t expecting the annual recession scare(s), energy demand is clearly falling, and since most of my book is in CCJ and BAS, that leaves me exposed. As I believe this is the start of the next washout, it just makes sense to bunker myself.
Net equivalent cash position now stands north of 50% again, counting on EUO and SCO hedging.
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should have bought HLF
No, I don’t think so. It was definitely a good trade though, so congratulations.
It just doesn’t tie in with anything I’m doing, and it’s not a company I want to be left owning.
do you see any sustained selloff in the next 4-8 weeks?
I don’t know what I see. But energy demand is dropping, as are manufacturing readings. In the past, that has been a precursor to a sell off, which usually materializes sometime in Spring – Summer
My time line may be more like within 16 weeks