A diary of the thought process behind my investment decisions
Sold Down Merck
I have sold down my long position in Merck after a greater than 20% gain on the position. This moves me to a net short position. In addition, my longs are defensive while my shorts are in higher beta sectors. I also have a long treasury position (short TBT) that should do well in a corrective market. Please note: I will be on the road for much of the day.