Hedging Long Accounts

We are still long a number of names I have discussed in the past, but we recently added QIDs and SDS to our managed accounts as a hedge.

The technicians amongst you who pay attention to Japanese candlestick charts will note that yesterday was an “Outside Down Day.”

While no one knows whether this will be a collapse or a mere shallow consolidation, I suspect the latter — but we have had a huge run since March, and our managed accounts have profits that require protecting . . .

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