Reducing Treasuries by 50%

Selling 1/2 of TLT @ $138.80

Realized loss of $7.75 (5.29%)

5% position remains

Selling 1/2 of EDV @ $128.55

Realized loss of $0.00 (0.00%)

5% position remains

I've been "wrong" on this idea and doubled down with EDV after TLT was smoked. I'll take the recent rally as an opportunity to avoid the large loss I was bearing. I still think I could be "right", but don't have the confidence given the turmoil in the world.

I'm now 10% long of Treasuries vs. 10% short of Junk Bonds. A bet that credit spreads will continue to grow. This is a much more palatable position given where things stand today.

It's ok to take losses and be wrong - just be flexible and know it's ok to cut bait.