Sold by Petrobras 1% position at a 20% loss, too much political risk. We've had Biden question why Exxon is making 'more money than God', the UK apply a North Sea tax, and Queensland apply a coal tax. There's a risk of a diesel shortage in Brazil in the coming weeks/months, and energy companies are a good scapegoat. Sell it while its worth something.
Now 96% invested. Most of the new cash is from dividends and salary.
Increased my short position like a broken record, now 37% short.
I think the market bounces here into the start of July. The same as its done every other month:
Chart from: The Market Dog. Its actually Q's not SPY, but close enough.
A 'normal' bear market rally can be 20% - we haven't had one yet. 'SPY is almost up 5% from previous lows last night, I'll add 4% to my shorts next week if it reaches that (3817). Then another 4% again if it goes up 5% more (3999). And again (4181). Then stop. If it follows the past pattern, the market rallies into Independence Day, before selling off again. Its as good a guess as any.