Velocityshares Daily 2X Vix Medium Term (TVIZ)

[gldtimer]

Bee Hive's January Performance.

What a month! The hive started out the first trading day getting slammed unmercerfully having a QB position in LQD effectively ending the period called 'Goldilocks'. The hive quickly swarmed to JNK, where it too took a beating. About mid-month it swarmed again this time to gold which made up the losses from both LQD and JNK. Overall the QB position was a break-even for the month.

The other half of the fund, the UST long short, had a better month with a full PST short position. This was offset some by a 33% TLT long which was gradually reduced during the month, turning to zero a couple of days ago. Now that the pivot point for TLT:TBF has crossed the hive holds a full position in TBF.

Here are the numbers with comparison funds/indexes:

Best...BSIIX +1.4% Rick Rieder / BlackRock unconstrainted bond fund.

Bee Hive...+.70%

Alternative Credit / Lipper Category...+.60% (unconstrained bond fund index)

JUCIX...+.60% Bill Gross's unconstrained bond fund

DFLEX...+.20% Jeff Gundlach's unconstrained bond fund

FPNIX...0%

Worst...(1.10)% AGG...US aggregrate bond index

Starting off the first trading day in February the QB position in GLD is effectively hedged to 0% leaving the hive holding a 50% cash position. The other half is split 50/50 between PST and TBF. Minor positions are held in FXY and JJG. Hopefully the first day of February will start off better than January.