Subject: Re: OT Cash balances keep soaring
My suggestion was to wait 120 days and then sell 5% a quarter after that to raise reserves for the next opportunity. (would be very hard emotionally to execute on this!)

I'm not sure that would be a good direction to follow. Bull markets can be looooong. Reducing from call leverage to straight long might be, in this context, a better bet...outright selling, switching to cash in the early innings of a long bull might be a big drag even if done gradually.

A bull market is a terrible thing to waste.

Jim