Portfolio was down 1% last night: mostly from LATAM and gold.
I sold 2 of my LATAM positions. These were longer term trades, or shorter term investments. Bought several quarters ago as South America had upcoming elections expected to swing to the right. Now thats behind us, the macro outlook for the next few quarters is bad, and the price action starting to reflect this. They were cyclicals (banks), not buy-and-hold-forever stocks. Took profits of 20% and 35%.
I need to think about the remaining LATAM position. It fell due to stock specific factors, and the factors above are more balanced.
My new crypto position from last week is down a bit, I could buy more or cut loss. If it does work out, I must remind myself to take some profits when overbought. Crypto is really volatile.
Only consolation is that my short term trades, both long and short, are mostly working. I may take some profit in oil if it keeps going up next few days. Now 34% net cash.
This year has been tough for my account. Up 9% YTD, but been through a grinding 9% drawdown in the past 7 months. I remind myself that I've been through worse, a learning experience. My trading style does not do well in non-trending markets. Eventually the market will start trending again, probably to the downside - if it hasn't started already. Need to be ready for that.
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