We have a couple trades in the speculative alternatives portfolio that should have happened last week, but I was being a total slacker and din’t post them.  The changes:

• Go from short to long GLD
• Short BMS and buy SPY as a hedge

The resulting portfolio is:

• Short 18% JNJ
• Long 9.7% SPY as beta hedge for JNJ
• Short 18% BMS
• Long 12.2% SPY as beta hedge for BMS
• Long 18% SPY as trend follow
• Long 15% GLD as trend follow

The SPY positions sum – total is 39.9%.

Current value of the speculative alternatives portfolio is about $31,735 or so.  Here’s a chart of its behavior vs. the S&P500 since inception: