I spent most of the market hours raising more cash by taking profits and selling off laggards. I also shorted the whole bleeding lot of financials via more [[SKF]], because I expect the market to further knock their *blinkin’* block off. And, at the behest of those running the fire drill, I added more to [[FXP]]. Other than that, I don’t expect to do much else for a while
All in all, my cash equity curve looks like a Fibonacci retracement from my fully invested position the first week of April.
The offense has punted and now the defense is officially on the field, ready to sack the bulls, NY Giants-style (even though it’s baseball season).
The bear bitch is back for an extended stay, at least through the summer. Don’t say you weren’t warned.
If you enjoy the content at iBankCoin, please follow us on Twitter
