Busy… (cf. Vonnegut and Bokononists). The brokers were glad to see us coming. We took profits on a bunch of stuff, ranging from 10 to 20% in DJP, SSO, GLD, DIA, QQQQ.
We hedged part of our gold positions with GLL (short gold) and our index positions with SPXU.
We left most of our QLD alone. That chart doesn’t look as bearish as the Dow and S&P.
These are moderately aggressive trades as we remarked earlier. Most of the time we prefer to look at the market as a marathon race. But occasionally it’s a boxing match and that’s what it looks like to us right now.
Tomorrow it might look like a torture chamber — that is, waterboarding.