While I lamented my letting my ALL puts and my GE calls get away, today I was not mourning the GE calls that I thought I had sold "too early".
It's worth noting that gold weakened today as well as the myriad of gold stocks. I know that at some websites gold is held out as the panacea for all that it is ill in the market. However, when liquidity is taken out of a market, that reduces inflation fears as well as clips the speculative excesses. It is no more a safe haven than a rattlesnake nest.
I hope that you and your portfolio fared well today.
3 comments:
good move (all cash in the taxable account)...i can think of few market emotions to rival that of having plenty of powder in a rapidly falling market...
2nd_ave
I love the idea of lots of cash in a taxable account and NO positions. But to have achieved that goal, didn't you have to sell positions? And if so, didn't you have to pay long or short term capital gain taxes? And, if so, do your potential gains offset those costs?
I use my taxable account as a trading account. I've not been looking for building long term positions over the last twelve months. It's a net gain for which I pay taxes like I would ordinary income. It makes sense for my financial situation.
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