Basically the week of Thanksgiving usually has a 50/50 shot of being positive but this year was obviously a downward trend as both the DOW and S&P 500 were of about 4.5% respectively. This week we saw a double dose as of bad news as Europe continues to see no improvement efforts with its fiscal crisis and the super committee came up empty. In my opinion I didn't expect any real results coming from the group as compromise and bipartisanship is just not in the vernacular of congress men and woman these days. I think this gave traders a reason to trade down this week which I should have anticipated. However most of the long positions I wanted to stay in, so for the most part I just stood on the sidelines and watch the downfall.
This week I will likely look to add to current positions, pick through the watch list, or add some defensive positions such as some shorts or put positions. Currently we trail our benchmark (Russell 3000) by about 4% YTD. We have a lot of powder left in the keg with 81% of the fund in cash.
This week I will likely look to add to current positions, pick through the watch list, or add some defensive positions such as some shorts or put positions. Currently we trail our benchmark (Russell 3000) by about 4% YTD. We have a lot of powder left in the keg with 81% of the fund in cash.
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