The Dow set a new record today hitting all-time highs. The path of least resistance seems to be higher but we must wait for the confirmation breakout before getting too aggressive. We were positioned well for the big move today but are still in 35% cash should we pullback. Expecting a 5-10% correction from these highs and will add on weakness (so 15-30% downside for us since we are in the S&P 500 triple leveraged etf.) With $40,000 invested in the S&P 500 triple (out of a $48,000 portfolio), that translates to $30,000 as the maximum bottom of our account. We are hedged with SPY put options and have ample cash on the sidelines so, a 10% correction doesn’t scare me.
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