BBUS, page-5166

My strategy was based around a belief that the market would go down, but I was not going to rely on any predictions on when, how far, or what shape.

I wanted to be able to make some profit in both a rising and falling market.

I started trimming my long positions and adding BBOZ throughout Feb 20, until by the end of Feb I had equal exposure to long and short, plus a third in either cash or gold futures. I then rebalanced every week or two to maintain aprox neutrality, buying mostly BBUS or gold stocks. However, I haven’t rebalanced since the end of April, and have just been letting the longs grow and the shorts shrink. I expect I will be stopping losses on longs, or rebalancing in the future, but I’m not going to do so when the market is continuing to rise.

I’ve missed out on a lot of potential profit by not going all long when the market bottomed. However, I’m in profit for this calendar year and feel this has at least reduced my risk, so I can’t complain.