What a wild ride we’ve had today. From the alarmists ringing the consensus sirens this morning to the shorts being squeezed this afternoon, this is what makes a market. This is the best game there is. This remains a market to be traded, not owned.
Fortuitously the last 9 orders I have plugged into our virtual Portfolio have been BUY or COVER ones. I buy low, and sell high – it’s not any more complicated than that. Rather than getting all hopped up here covering after a 5% intraday squeeze, be patient – a nice little trading range is quietly being established here in the SP500. See the chart below. Here are my levels:
SELL “Trend” = 884.36
BUY “Trade” = 814.96
In terms of my Asset Allocation Model, today I have moved our US Cash position back down to 65%, and took my zero position in US Equities up to 3%. The turtle will win this American race. Don’t rush into anything. Buy’em when they’re red.
KM
Fortuitously the last 9 orders I have plugged into our virtual Portfolio have been BUY or COVER ones. I buy low, and sell high – it’s not any more complicated than that. Rather than getting all hopped up here covering after a 5% intraday squeeze, be patient – a nice little trading range is quietly being established here in the SP500. See the chart below. Here are my levels:
SELL “Trend” = 884.36
BUY “Trade” = 814.96
In terms of my Asset Allocation Model, today I have moved our US Cash position back down to 65%, and took my zero position in US Equities up to 3%. The turtle will win this American race. Don’t rush into anything. Buy’em when they’re red.
KM
