The Dow and S&P 500 rose about .51 and .61 respectively. Our account rose .67 resulting in us outperforming both, 4 out of 5 days. This trend will not continue. I sold about 1/3 of our position in oil resulting in a 13% profit.
Next week is anyone’s guess as is any other week. Gold is clearly over-bought. Our two diversified commodity holdings will suffer as gold is sold off. If there is a correction, I will add to both positions. Our two week results in these positions is 5.19 and 7.37. Both positions are very small and the returns insignificant relative to our portfolio.
Your account manager was Salieri, knowing that at his best, he could not equal the big boys. The noise around me all week was just too much and I couldn’t pull the trigger. The crabs are still pulling me down.
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