I didn't trust this morning bullish action and sold from 1/3 to 1/2 of all quick runners (GBE, AHR, QTWW, HYGS). Looks like it was a right move. We booked profit from 40% to 70% from all those positions. Overall portfolio realized gain is around 1% for today. We are still green for unrealized gain for now, primarily due to SDS hedge play. Trading volume is weak and further consolidation is expected.
We liquidated IGOI with nice 52% gain from $0.82 entry few weeks ago. It went "too high too fast" and although it is a quality play, I didn't like bid-ask spread and its' average daily volume. May be IGOI has some more space to go, but for now it is already overextended. I believe there are some other, better plays, with better dynamics and liquidity. We initiated FSNM and bought back previous oil play END.
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