A bit of a portfolio update:
- I’ve eased out of most of my energy positions because, as the chart below illustrates, the XOP is battered down pretty hard right now. Every one threw off terrific profits. so thank you!
- I have retained only two energy shorts: COP and CPE – – not because they seem particularly resistant to a bounce. But I don’t want ZERO energy, and these suckers have many, many months left on them, so I’m keeping ’em. And anyway, they’re showing +70% gains, and would that be any way to treat a friend?
- My cash is up to 30% at this point, as I remain cautious in the face of bullish shenanigans.
