PORTFOLIO POSITIONING
I will be providing updates from time to time as to the general portfolio structure.
I have been increasing my allocation to cash over the past couple of weeks. I am now up to 50% cash. I have recently taken a position in EDZ. I have a couple more inverse ETFs that I would like to gain exposure to in the days ahead.
I am also looking to liquidate what remains of my long exposure in the market and be net short in the portfolios for the first time in quite awhile.
I wouldn't be taking on such positioning if I didn't feel that the downside was substantial from here. A move up to 1200+ on the S&P would not be surprising. A move to 1250 would, however.
Expecting to see sub-1000 on the S&P over the next couple of months. What happens from that point will tell us if we are going to test the March 2009 lows.
I'll have charts going over the reasons why in my weekly chart review later today.
