PORTFOLIO UPDATE: ELIMINATION TIME
During the trading day Friday, I tweeted the following:
I discussed all of these moves in fair detail during the February Performance Summary posted yesterday. The bottom line here is that given my cautious stance with respect to the market, I want to focus on names that 1) are in sustainable technical patterns and are clearly indicating so and 2) have little correlation to general market movements. Stocks such as UPIP and PRXI will be more prone to weakening during volatile, generally bearish periods as opposed to companies like WMIH and IWSY that have much less overall participation.
Following these moves, the portfolios are now 75% long and 25% short via TZA. The long positions are: WMIH, SPNS, IWSY and MITL. A much more compact, consolidated portfolio composition that will be easier to control under uncertain circumstances.
