I am reducing my long exposure some more
despite losing money on every hedge I have in place today, my real life portfolio is up 3% again today. It now stands at shocking gains since my beginnings last December, despite beingwell down on various hedges.
I am reducing my long exposure today via my usual means of selling some shares, buying puts, selling covered calls (more aggressively this time).
Any stock yielding 9% or higher with the yield current and sustainable I am not hedging.
I'm still taking a tactic of case-by-case, estimating the likely future upside of each stock one by one and doing my best to pick the approrpiate hedge. I took big hedges on WYNN and LVS as I think they're about played out. I took gentler hedges against some insurance names as they are still below book. I uppded my hedge in ASH, etc. Case by case... I am going to try to borrow more shares of levered bull ETFs to short as a long-term-winner-no-matter-what hedge that packs a good punch if we get a dip.
I'm far past my overall investment goals, and many of my stocks are approaching the target prices i'd estimated for them. Som eare now past those prices.
good luck to everybody!