Quite an interesting day today! Here, in brief, is what I've been up to………
+ Extremely active trading in GLD with great success;
+ Very active trading in SPY with pretty good success;
+ Got out of a couple dozen small shorts (mostly energy-related) with nice profits;
+ Otherwise, tightened up stops across the board;
+ Have trimmed quantity of positions down from 200 to 160;
+ Have gone long a few items – TBT, GDX, DBB, and USO;
+ Have reduced exposure from 150% of portfolio to 117%;
+ At almost perfect point today, got out of ultra-bearish ETFs;
+ Generally speaking, have toned portfolio down from wild-eyed bearish to pretty-bearish-and-waiting;
I'm going to have the air conditioning on my Volvo checked out, so I'm heading out for a bit (oddly enough, even though it's nearly June here, it's still in the low 60s and raining……….pretty much unheard of in the Bay Area). Today was a terrific day, and I'm really proud of how I managed it. I'm also breathing a bit easier since I've reduced my exposure substantially.
I'll be back later!
