After one crazy volatile qtr seeing the crushing of Bear Sterns (BSC) and unprecedented moves by the Federal Reserve bailing out banks and brokers this is one qtr. that will be remembered in the history books. The outlook does not look any clearer now then it has over the last three months and further failures look as possible as ever given the instability of the housing and credit markets.
I have ended the qtr. up 5.18%. Up 8% on the DCR since Friday, VNR outperforming recently and the USO puts helped to add a percent to my gains today. Given the environment I will happily take it and look for higher returns in the qtr's to come.
I sold the rest of my BQI today at 3.94 and will look to reestablish the position after oil looks like it is ready to bottom out.
I still own DCP, VNR, USO puts and DCR. About 80% cash until I get some more edge one way or the other.
Hope everyone is surviving these treacherous waters! Safe swimming to all!
