The House of Representatives decision to vote on a debt ceiling extension took me by surprise Friday afternoon and forcefully made me cover my short SPY hedge. I said before how I wasn’t comfortable being long with overhead resistance levels lingering over the market… well those levels were cracked later in the day… so I was left being long about 80% of AUM.
One of the primary reasons for my hedge was an upcoming debt ceiling debacle… which I anticipated would be an ugly fight similar to the one witnessed last year. With that risk seemingly off the table I had to adjust my stance.
Below are my current positions going into tomorrow.
Lately I have been spending a lot of my excess time looking for real estate opportunities to take advantage of what I think is a generational bottom in home prices. I intend on purchasing multifamily housing in the tri-state area and building a portfolio of real estate that will rival Donald Trump… and I may have found my first deal.
Pending a successful close I will hopefully regain my time and devote it to finding new stock trades and blogging about them.