Cut more exposure this afternoon and tonight. I think the war leads to a slowdown, as oil & food stay high for a few months:
- Reduced my Tin miner (industrial metal)
- Reduced some of my LATAM stocks (they are high beta, and move with the nasdaq).
- Reduced Equinox Mining. Open pit miner with high diesel costs. Kept ~ 1/3rd of my original position. Keep the gold royalty companies.
- Kept silver.
- Sold my trades (XLI and EWW). Keep EIS for now.
- Added a few puts (0.5% in total).
I am now around 22% in cash (excluding shorts).
A crashing market doesn't give you a nice bounce to sell your holdings and load up on shorts.
Its a pit of a panic, but the question is, is it at the start of the correction or the end of it?
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