GOLDILOCKS

It's the end of week 5 and my portfolio, surprisingly, is up by 3.92%. This is rather shocking, particularly given that I have been rather under-invested for the first month of this year (holding close to a third in cash). When I go through screens lately, I am having a hard time to find stocks with a decent valuation. Despite the strong markets, I remain skeptical and sidelined. I will not chase this market here and I would rather sell or write cover-calls. Having said that I was opportunistic today and I added one gold name (ARU.V), as gold price fell more than $13 at lunch time. I got lucky as it bounced intraday low of $25.20 and went up, and closed at $27. The only minor mistake was that I could not quite decide how many shares to buy and I ended up with an in-between number. Oh, well, you can't be right all the time.

Position: Long ARU.V