Sold Qs, TBT, pared back $SPX

Posted on Oct 04, 2010 by in Letters

Today we sold our Qs position as well as our TBT position and scaled out of some of our SPX position.

TBT we didn't like as the downdraft in bonds (TLT) doesn't appear to be happening.

The Q move is a trading tactic.  It means we think that a downwave is about to develop.  Same with the SPX.

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