Otherwise, this was a housekeeping day, as I closed out some long-term positions and added to some existing ones.
I exited my long-term positions in SNDK, ERF, BXMT and NYMT, all for losses. My take-away from these is that long-term trading is a really bad idea. I mean, the tax break from long-term capitals gains is nice, but a loss is a loss, whatever the tax rate.
I added to my positions in TLT and FXE.
-- Tim Bovee, Portland, Oregon, June 9, 2015
My volatility trading rules can be read here.
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