February 9, 2015

Cautious on the markets

Frankly, while I remain cautious on the markets, I have little confidence in the direction over the near term. Anyone who suggests, with confidence, that they know is a liar.

I prefer to maintain flexibility and trade opportunistically.

Several weeks ago I wrote about volatility, and we are seeing trouble and volatility in spades now. I'm taking my own advice and reducing my gross and net exposure, and I'm lowering my portfolio's Value at Risk.

These are uncertain times, with numerous possible economic and market outcomes. The daily market volatility is "insane in the membrane." Let those with self-confidence play.

Trade less, surf more. 

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