Bearish Back-Off

By -

I went through the tedious but crucial exercise of going through all my positions and either

  • Updating the stop, or;
  • Closing the position for a profit

I trimmed my universe of shorts from about 210 to 165. I have also taken on two largish long positions – one in UNG, and the other (much larger) in UWM.

I have also, by the way, closed out my largest short position, XLU, for a small profit. So I'm relatively "light" on the bear side right now, waiting for better entry prices. Some of the shorts had dropped in price 20% or more, so I felt it was time to take some money off the table.