Thursday, June 16, 2016

Bear market making us reduce long positions

Because this is a bear market in global terms, we need to position ourselves accordingly; that is we shall increase our short derivatives positions today in our own retirement funds while we reduce our long positions, sufficient to get ourselves into a small net short position by mid-day. 

The world is a much more frightening place than it was only a few days ago; the prospects of a Clinton or a Trump presidency; the confusion underlying central bank policy making; the geopolitical circumstances of the moment all work together to cause is dismay rather than joy….. to cause confusion rather than confidence. We shall act accordingly.