As I mentioned last post, I dropped to my knees, thanked my lucky stars, and eased back on positions. Here is my present positioning:
- 25 bearish positions
- Increased cash from 0% to 20%
- Salty as hell
The easing back comes from two places. One, spending the weekend scared to pieces about what today would bring, and grateful to have less risk on, and two, cognizant of the CPI report in the morning and not wanting to get unexpectedly run over. The point is that my nerves have had their fair share of strain over the past 48 hours, and I’m giving myself some peace.
Although I reduced it a full 50%, my EFA short is still my biggest position, and the top has completed nicely with a gap this morning to boot.(more…)