Given the rather abysmal market conditions, I've made a number of adjustments to the portfolio of late. In addition to purchasing the commodity plays recently to exploit opportunities in Gold with GLD and Platinum with SWC, I sold the following stocks, as I want to be heavier in cash here with more downward movements likely. When the market doesn't even react kindly to the prospects of further rate cuts, we are in serious trouble. The concern of the precipitously falling dollar has now outweighed any notion of a near term benefit from the rate cuts. Anyway:
I sold my positions in AAPL, CRL and BPHX. I don't see any near term catalysts for these.
I purchased 3 QQQQ March 42's.
A while back, I had sold a credit spread of QQQQ Short March 47s and Long March 50's. That position's up over $100 already.
Finally, I bought options on the continuous commodity ETF GCC: Jun 33's.
The way I see it, if by some miracle, the market breaks out and I lose a thousand bucks or so on these hedges, I've made well more than that in my remaining long holdings. I don't see that happening, nor will the dollar recover any time soon, so I feel like I'm rather neutral on the market here, not necessarily short or exiting and US and moving to China like Jim Rogers.
Good luck; post here what you're doing to protect yourself from further declines.
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