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Market Stance: BEARISH (since February 2, 2018)
* An average of managed accounts, net after all commissions and fees.
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* Buy prices shown are net after commissions and fees.
Today, Tuesday, February 6, 2018, I bought SPY, for both client and my personal accounts.
I am maintaining my bearish stance, but I am also moving to 100% SPY (a proxy for the S&P 500) this afternoon. I call this a "market neutral" position. When I say "market neutral", I mean we will not underperform, no matter which way the market moves. In my playbook, because I focus on relative performance, this is neutral -- neither bullish nor bearish.
I see tentative technical indications that the market may have put in at least a temporary bottom earlier today.
-KD, Tuesday, February 6, 2018
* Buy prices shown are net after commissions.
** Current prices are at least 20 minutes old.
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