So Why Cover Now?

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First off, I urge you – -nay, insist! – – to check out the incredibly sexy and fantastic Quarterly Reports page. Oh, my God, it’s beautiful!

Second, I wanted to tell you that I’ve covered a ton of positions. And by “ton” I mean I’ve gone from 300% margined to only about 95%, and from 90 positions to 35. For someone like me, this is almost like “nothing but cash”. Now let me be clear, I hate taking profits. Just hate it. Here’s why:

  • The opportunity is gone. Well, mostly. I still have some shorts. But if we crash, I’ll feel like stupid.
  • The thrill is gone! It’s FUN to see profits explode when the market is falling.
  • The entry prices were DYNAMITE. I’ll never get prices that good again!

However………

I’m serious. You may think it ridiculous to cover a million dollars in positions based on the musings of one man, but I’m here to tell you: every time I think to myself, “ya know, maybe he’s right this time”, I have always been disappointed. I know EXACTLY what it feels to see profits vanish, and in case you’re unacquainted with that feeling, let me assure you, it sucks.

I feel I’ve been handed a miracle with the past few weeks. I honestly don’t think I’ve accrued profits (in percentage terms) this swiftly before in my entire life. And, if I may be so blunt, I really don’t want to fuck it up.