Well, shoot. This tweet bummed me out big time.
The reason is that Attila is just about the only other person whose opinion I respect.
I’m embarrassed to say it, but that tweet alone gave me the willies. I have thus:
- Taken all profits for IYR;
- Taken all profits for EFA;
- Taken profits on NOW and LOVE;
- Have gone from almost 0% cash to 16% cash
I remain in one account long XOP and XLE puts and in the main account long 34 different positions via puts. So its not like I’m “out”, but I’ve definitely raised cash.
Of course, this kind of cowardice does put opportunity at risk. Just yesterday, moments before the close, i sold my 36 call options on UVXY, locking in my profits. Let’s all just agree that those calls are worth MUCH more today.
