I treated today as a gift – the best day of the year for the Dow as an opportunity to get out of stocks at a higher price than I could have gotten yesterday. I sold everything Japanese: DXJ @ 31.22, KUB @ 42.45, and MSBHY @ 39.11. I cut back by 20% IBM @ 192.00. PCL went @ 36.78 and WOPEY @ 32.34. I took a quick gain on one of the two small energy specs I bought on Monday.
I like the way things are shaping up; allocation is shifting, I’m better prepared for a downturn, and I’ve got plenty of exposure across all sectors I like in the event the market moves up suddenly.
Gold stocks had an interesting day. Up fast at the open, they came back for most of the day before turning up again at the close. I closed the RIC trade @ 6.56. I also put a couple of new trades on: New Gold (NGD) @ 10.19, Nevsun (NSU) @ 3.84, and Aurizon (AZK) @ 5.05. Technical patterns yesterday confirmed gold’s bullish momentum, so I added to my positions in DBP @ 55.63, SNDXD @ 8.81, and ABX @ 40.60 ; I also opened one new spec play, Atac Resources (ATADF) @ 3.00.
I’ll probably wait until the weekend to do the numbers on all this activity. My cash position increased by about 10% today and my direct equities position is now about 52%. The last move I made today was to increase by 2x my DoubleLine Total Return Bond Fund holding (DLTNX). I need some protection against deflation, and Jeffrey Gundlach is the man!
Disclaimer: The EquityMan2012 portfolio is a real money portfolio. Tracking of its performance and comments on my buy/sell decisions is provided for the informational interest of family and friends. Others are welcome to follow. However, I am in no way qualified to offer investment advise, and nothing I say or that appears on ResourcefulStrategies should be construed as investment advise or a recommendation to buy/sell any of the securities I discuss.