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Half of my positions are up with the highest being 13% as of today. With TOT being the best of the bunch. It is just hitting your range of $56-63 to sell. BP is within $4 of hitting the beginning of the sell range. QCOM $4 from it's beginning sell range. Otherwise everything else is far from the sell ranges. Those 3 I will sell soon. I am currently 33% cash. I am holding to your sell positions given in the summer and then the update in the fall. The portfolio was chosen as protection to the bear market and inflation? If nothing has changed since your last reports then it makes sense to be patient. Thoughts

I just sold the 3 mentioned in the above comments

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I am now at 60% cash, took a couple more small profits

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I look at the cash question from the perspective on how many stocks are we likely to end up buying over the next two years. Based on the previous portfolio with Sean, we held 20-30, so take that and plan on 3 equal buys. So if you allocate $15k per stock, $5k for initial buy and two averaging down buys, then you would need 20 x $15k roughly. Keep in mind many times you never get to the third averaging down purchase which is more cash available for some other purchase, plus there will be some sold along the way. This is one way to look at it with hard numbers. Sean, thanks for all you do!

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