Thursday, March 22, 2007

Finished housecleaning

The market didn't tumble from profit-taking today. I felt strangely out of sync with the market as I sold off anything that wasn't bolted down today. I'm up to 25-30% cash from 10% in my diversified stock portfolio (I was at 15-20% cash before buying into the market ~3 wks ago). This is my highest cash position in years in this account. What's everyone else doing? It doesn't seem like there are many sellers today.

When I finished selling, I opened short positions in DIA and QQQQ equivalent to 8% of the portfolio. This is a trading position only. I am still hugely net long due to holdings in my company in other accounts.

For an opinion on why DIA isn't cracking, check out this analysis on each individual component:

I'm not an acolyte of Jim Cramer, I don't even watch Mad Money (no CNBC), but I do find his insight helpful.

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