I mentioned in comments last week we were 48% cash in our Long/Short Portfolio; One of the asset allocation models we run is now 20% cash, 20% bonds.
As we are starting to get into the meat of the earnings season, more and more profit taking is likely. We are overdue for a pullback, and the past few earnings seasons have ended with markets dropping. Hence, our (small) QID) position.
Our current holdings/entry prices/weightings in our managed accounts Long Short portfolio are after the jump.
-EK (recently stopped out)
-BWA, IDCC and RAX was sold off several weeks ago.
Current Holdings (still long):