Due to the volatility in the market last night (mostly as a result of Apple’s disappointing earnings) we took a cautionary approach and moved a portion of the portfolio to cash.
For those of you that were on margin, we have taken you off margin and moved 10% of your account into cash, so 90% of your portfolio is still in the market). For those of you that were NOT on margin, we have moved 10% of your account into cash (90% still invested).
This allocation could all change later today or tomorrow as the market reacts in a secondary wave, but in times like this taking a cautious approach wins over the long haul. Protecting your investment is the name of the game.
FYI – we locked in a nice profit on your account by selling today.
If you have any questions or comments, please feel free to call or email.
Resnn Investments, LLC