Last week I said if your in the I-fund get out. So far this week we are down 4.1% in the I-fund and are now officially almost 1% down for the year. I repeat, Year to date, down almost 1%. The S&P and Small Cap are down 2 to 2.5% so far this week but still positive for the Year. Things are getting ugly and I do not think it is going to stop until we get below $1300 in the S&P.
To get another point of view, I liquidated all my personal stocks except one, PFE and I might sell it soon. I’m now 80% short on the S&P 500 via SPXU and short the Small Caps via TZA in my personal account. The last five days of trading on the stock market seems to have the same pattern. Any positive upside buying is met with equal or more powerful selling to end the day negative.
Like I posted yesterday, please do not try to call bottoms. Professional traders can’t do it, so why think for a minute that you can do it. Wait for some kind of sign and or signal that things have slowed, bottomed, or reversed. Remember, we never get in at the bottom and never get out at the top. We want the meat in the middle.
Tomorrow my vacation starts for the next two weeks, but I will do my best to keep up with the markets each evening. I will post any moves I make or any changes I see, even if it is just a single sentence. Be careful in the market.
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