We have sold all of our positions in TZA, SQQQ and TMF today for a nice short term gain, the TMF was a push.
Today’s knee-jerk sell off on less than favorable employment data, IMO should be viewed with the larger perspective in mind. The employment data miss likely means that easy monetary policy will continue which is quite positive for the market.
I felt this round of hedging was a bit of a struggle in light of the strong markets so today’s sell-off is a bit of a gift. I’d rather take the profit in hand than wait for what I expect to be cooler head analysis next week.
Brad Pappas