Call it paranoia – – or gratitude for yesterday – – but I’ve closed just about every position I’ve got in my smaller account. It probably has mostly to do with the gazillion disappointments I’ve had this year, but I had fat profits in my positions and wanted to take the money and run……….two examples:
I also sold my BOIL position (a long, for a change) for nice profits.
In fact, I have ONE, count ’em, ONE position left in my smaller account, which is November puts on EFA. I’ve got them on a tight leash (note dashed lined, anchored to the gap) but figure it’s all right to have this intact since there’s plenty more potential longer-term.
To be clear, in my normal account, I’ve still got a decent number of positions, but after yesterday’s tremendous drop, I wanted to pull some chips in my direction.
Strangely, the horrible feeling late last week was, of course, the absolutely perfect time to go crazy with bearish positions.
