I am known for my clever post titles (at least to myself). This particular one has a meaning which depends on what the market does from here on out. If we go ripping higher from here, we can applaud my ingenious chart-based clairvoyance. If we continue to plunge, I’ll deny any equity-oriented assertion, and state that I simply believe the fetishazation of posteriors is prevalent, and for reasons I cannot fully understand, the bottom is “in”. Dig me, Daddy-O?
Having provided myself an Exit door, I will say the following:
- My “big” portfolio has only three positions now. Long XOP. Short TLT. Short GDX. As of Wednesday’s close, all three were in the green.
- My personal portfolio (much smaller) has only two positions: Long DUST (the triple bearish fund on precious metals miners) and, God forgive me, Long BA. As of Wednesday’s close, both were in the green (particularly DUST, which was sporting a 20% gain already).
- I have watched with chagrin at my “stuff I covered” portfolio. When i covered those positions, I had an $80,000 profit. Today, the profit reached, I believe, about $360,000. Now, to be clear, I’ve been trading since that fateful day, and have made extra profits, but let it be known that I left a hell of a lot of cash on the table.
I feel oddly refreshed. I’ve got other posts in the wings, but they are still along the lines of, “Wow! Can you believe this chart!!?!?” But I’ll get through those soon enough.
Finally, if you didn’t read about the improvement in SlopeCharts, please do so. I cannot BELIEVE how useful this was. I only thought of this idea last night, and it has already proved itself to be invaluable beyond belief. So please learn of it.