Tactical Update: February 2, 2023 (PREMIUM-UNLOCKED)

by Dana Lyons
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The following post was initially issued to TLS members on February 2, 2023:

Fade to black.

We’re seeing another positive post-Fed reaction in most risk assets. Historically, that has been the norm — but it has also historically not paid to chase the rally. Thus, we are taking the opportunity to fade the move (a little) in some positions that are well into the black. We are also chasing silver (never works out for us) and shorting a little AMZN as a hedge (could be timely…or a bust). Here are the deets:

  • We added a small hedge (short) position in the inverse Amazon fund, AMZD, near ~25.72 (about ~0.5% short exposure)
  • We sold 1/2 of our remaining position in the S&P 500 fund, SPXL, near ~78.04 (about ~2.5% exposure now, with leverage)
  • We added to our position in the silver fund, SLV, near ~22.29 (about ~2% exposure now)
  • We sold 1/3 of our remaining position in the inverse volatility fund, SVIX, near ~19.00 (about ~.25% exposure now)
  • *UPDATE: We covered (sold) 1/5 of our position in the inverse Amazon fund, AMZD, near ~26.22 (about ~0.4% short exposure now)*
  • *UPDATE: We sold 1/4 of our position in the large-cap pure value fund, RPV, near ~89.00 (about ~3.75% exposure now)*
  • *UPDATE: We added a small hedge (short) position in the inverse innovation fund, SARK, near ~36.48 (about ~0.5% short exposure)*
  • *UPDATE: We added to our position in the oil services fund, OIH, near ~311.89 (about ~1.25% exposure now)*
  • *UPDATE: We covered (sold) 1/5 of our position in the inverse innovation fund, SARK, near ~37.50 (about ~0.4% short exposure now)*

That’s all for now. Check back on this post throughout the day for further portfolio moves. And as always, stay tuned to our DSS posts for further developments — they provide the most current updates to our investment portfolio and outlook.

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Disclaimer: JLFMI’s actual investment decisions are based on our proprietary models. Commentary provided here is for informational purposes only and should not be taken as a recommendation to invest in any specific securities or according to any specific methodologies. Proper due diligence should be performed before investing in any investment vehicle. There is a risk of loss involved in all investments.

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