Last week, as the markets were consolidating, we slowly edged out of the market to where we are holding only a small position. One of Don's comments in the Briefing "we continue to anticipate a consolidation mode with erratic short-term swings" . . . ."we chose to play defense this week by scaling down many equity positions".
This morning the Dow opened DOWN 175 pts due to the Standard and Poors downgrading the U.S. debt to negative from stable.
We have dodged another bullet and I'm sure we will start scaling us back in when the "technical picture becomes clearer over the coming weeks."
Please visit the Briefing Room for more details.
0 comments:
Post a Comment
Note: Only a member of this blog may post a comment.