My Long Term Portfolio
Two things are happening :
- A majority of companies have reported excellent earnings and outlook.
- Market is still counting on some sort of "debt ceiling / spending grand bargain" to be agreed up on soon.
I don't know what is going to happen, but it seems to me being long in stocks and indices now is very risky. My plan is to stick with my short positions so longs as my signal, SGS, is short. SGS would turn neutral if the primary down trend lines in major indices are broken (orange line on the SPX chart above), and then would go long if major indices put in new highs (1370 and higher for SPX).
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.