Dan, I think we get a mighty pop if the election ever ends and Al cuts rates, which he will. However, not a long lasting one, so I am using calls to play it, not my cap app portfolio.
I have changed my allocation recently. I now have 35% in 90/10, 55% in max. income, and 10% in cap app. That is basically a 5% rise in max income at the expense of the 90/10. That is not really a strategic change, but due to the fact that so many of my bear positions have been better achieved as credit spreads than as long puts. I have kicked ever-loving butt in the max income portfolio, even though I added a few bullish spreads that have fizzled. And for some reason, I seem to be in a slump on 90/10. So, I'm playing my current strength until the cycle switches. |
