About 5 or 6 years ago, I wrote an article called “What Would Cash Do?”
The photo to the left is the one time that the Seeking Alpha editors didn’t let me get my way.
I was reminded about it the other day when someone asked a question on a closed Facebook page about what artist do you hear and then remember what a badass he was?
For me, the answer was easy.
It was Johnny Cash.
But it also reminded me of what I’m up to right now in preparation for things to come.
But before I think about things to come, I’m also stuck in the moment, but am not really sharing all of the the information in real time.
The reason is that as I want to transition to a longer term outlook on my portfolio, I still do like current income and I also trade for others who have a much longer term outlook than I now have.
However, with that desire for current income, which is still using the shorter term “Option to Profit” trading methodology, I do not want to be continue the maintenance of those positions for those who may have been inclined to follow the trades.
There was something really releasing about departing “Option to Profit” in that it allowed me to trade much more freely, especially with existing and deep out of the money positions.
For those who followed along you saw that in 2017 I didn’t open that many new positions, but I did very actively establish short option positions on out of the money stocks and frequently rolled them over and over.
Out of a continuing sense of obligation, I suppose, I did continue posting those trades during the past 13 months, but haven’t posted all of the new position trades.
For example, in the past week, I opened up new short put positions in Cleveland Cliffs (CLF), Bed Bath and Beyond (BBBY), General Electric (GE) and Under Armour (UAA), in addition to the one trade that I did report in United Airlines (UAL).
Most of the former were just too speculative and too short term oriented and I really didn’t want to get bogged down with following and reporting them to those who still followed the trades that I posted.
Anyway, I am now at my highest cash level in a number of years and I’m hoping to put it to work in the next few months as “LEAPtoProfit” gets underway.
As with “Option to Profit,” I plan to make all of the trades that I recommend and I plan to continue the transparency of performance assessment.
The difference is that I just won’t be trading that often and I will be focusing on nice dividend paying stocks in a well diversified portfolio.
It’s not that I have any mis-givings about what I had done earlier, in terms of a philosophical approach to trading, it’s just that I want to enjoy my time more than I had.
For 5 years of “retirement,” I was glued to the screen making trades and alerting subscribers of those trades and then writing about it.
I can’t complain, because people paid nicely and were nice, as well.