A quick update as to our trading posture:
-For the past quarter, we have been about 50% cash with a handful (20%) of longs (HSY, MTZ, PZZA).
-For the past month, we have been increasing our QID, SDS and VXX positions until as of the beginning of last week, they were 30% of our Long/Short portfolio.
Today, we covered all of the short exposure
Our current posture is 30% long, and 70% cash 25% long, and 75% cash.
Before we make any large asset allocation moves, we will wait for the dust to settle and the picture to clarify.
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