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.If you enjoy the content at iBankCoin, please follow us on Twitter