Sixteen
winners, one loser for the August option cycle. The one loser was
part of a backratio, so really 15-0. SPY was down about 2% for the
option month, and my trading account was near flat. Winners included
short strangles on APC and LGF. All were small fish or worm size
winners. My recent trades into GLD and GDX are working out.
I am
still staying away from bonds. All this talk of taper in a market
where the Fed openly intervenes is a bit much. Technical levels may
not matter. The stock market remains richly valued, but all the
recent chatter about an 1987 style crash makes me think that any down
turn will be contained at a 10% downside.
There
is the romantic notion that I could have timed the highs and lows
much better, but if I could do that, I wouldn't be using cautious
hedging strategies. I'd go all in every time and own the world in a
few years.
Long
BRKB EMN GE GDX IWM KORS XRT
Net
long APC BA GLD LGF SPY
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