Sorry for the delay I have been swamped. As for the market, we crushed them today. Everything imploded in the green, so good wins for your boy and I am sure you all did well. Below is my position update, I am a little concerned about LVS but plan on holding. The MGM bankruptcy rumors are running wild, so it will hit all of the casinos.
Going forward, I would advise keeping high cash levels, so you will not get burned. I have a feeling we will pullback strong because the shorts are piling in. Frankly, it's possible we get another 40 points in the S&P but that's about it. I bought FAZ today and sold it once again for a damn loss, I hate that ETF. I sold my UYG as well for a tiny loss. Frankly, I just don't feel comfortable with financials at these levels, period. On a strong pullback, I will buy some banks but not all. As for sectors, I like semiconductors and REAL commodity based firms. Real commodities are Copper, Steel, Alumnium, not Gold. As for oil, I believe we will hit $40 again, so I am stumped. I like energy for a longer-term play but that's about it.
As for the rally, enjoy the short-squeeze because I think it's about over. Not trying to be a crazy but this is NOT the real rally in my view. I don't believe we will revisit 666 on the S&P but we can retrace. I just hope we are in mostly all cash, so we can get great bargains!
RF Portfolio:
ACH, ALU, ASX, CROX, EMC, FCS, GIGM, IBKR, JASO, JAVA, LVS, ODP, OWW, RUTH, TSM, FEED Calls, MAC puts (will be worthless tomorrow)
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