Might be giving some upside away but I am going to sell all those index longs; the last 1/4th of the SPY calls (up roughly 60% in this last batch), and our entire TNA position which had been a 5% allocation and has rallied 4-6% in a session and a half. I sold about a third of the TNA first thing this morning north of 6% gains and the rest will exit now around 3.75-4.0% gains. So a melded average of under 5% for the entire stake of TNA ETF. (by the way TNA is simply a Small Cap index ETF, levered 3x its normal movement)
I don't plan on doing anything index related while the S&P is in 1090s; I'll let others deal with that stress - the "easy kill" has been made. The next transactions with the indexes will either be on a new breakout over the "double top" (north of S&P 1100) or on a more substantial pullback. Since we are in an uptrend and above all key moving averages we'll simply use our core equity positions as long exposure and buttress any downfalls with a good stash of cash. Frankly I'd like to begin focusing on individual stocks again rather than indexes, but this
Period "12" is only in its 2nd day but we could effectively drink fruity colored beverages on a deserted beach by going to 100% cash for the next 3.5 weeks, with the realized gains in the first 2 sessions. But than the blog would be full of posts about the real economy, and I don't want to overwhelm readers with
No position
