Hi carlos,I am glad the XGD is correcting back after that run...

Hi carlos,

I am glad the XGD is correcting back after that run the last month. I lightened up on Thursday last week - back to nearly 28% cash. Time to tickle back cheaper now with a nice gain.

You can make money on the up-legs and leverage additional shares on the down swings. It is fun when you get it right. I think Jackson Hole will be a confirmation that we will step in if we have to - so a neutral - so too much pessimism built in ultra short term. This is not where the action will come from IMO.

CW