Sold 3 positions (MU, NOG, PER). Did good with all those. Got back into SPXS (3x ETF that shorts the S+P 500). Cash position now about 45% plus the effect of the SPXS hedge. This market love-fest has to cool off one of these days.
Not a BAD idea at all, selling to take profit. Only the young and clueless ones will take unnecessary risk. With today's DOW rising up 140 pts, it is almost time for the market being set up for a big fall. I wonder if I should grab some QID quick. Thoughts?
I guess we are either very wise or getting old. But from somewhere I read when you retire or getting closer to retirement your number 1 goal is to preserve what you got. Even Jim Rogers said it was good to lose a lot of money but you better did it when you were young.
I sold my remaining 1,000 shares of PSEC and bought some GGN to cover what I sold yesterday. I am not convinced PSEC will go anywhere in this quarter and will buy it back when it drops again. Also bought some QID at closing. I just cannot believe it will be up tomorrow or Friday. Now of course I will be wrong. At least I bought some RSO today. Short and Long. Play it both sides.
Most of what I have left is my monthly dividend payers......PSEC and buy / write CEFs mostly, also FEI, a MLP CEF that pays monthly. Looks like I sold a little early, but I'm a big boy, I can handle my lack of perfection.....(:^)