SHORT QQQ @ $265.56

Shorting QQQ $265.56

5% position

After taking a bunch of pain covering shorts (and selling a few longs), I need to reduce my net equity exposure. Rather than take MORE pain, I'll short the index that's down the least today. This is not an outright short of the Nasdaq. It's a portfolio management trade to manage my net exposure. I expect to lose money on this one. But it helps manage my risks and avoid selling my longs.

This brings me to 3% net long and 48% gross invested. That's about right for now.