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.
Respectfully,
Randall Mauro
Resnn Investments, LLC
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