Everybody knows QE is ending, silver has crashed and congress is becoming austere. Yeh, but the dumb money got awfully bearish awful quickly; and not just on commodities. Precious metals as well. Armageddon '08 is still fresh in the collective market psyche. As for the broad market, Dow still tediously targets 13,300 until it conclusively loses the 12,400 level. I got rid of most bear positions yesterday and may get rid of the rest. Cash management is good risk management too.
Edit (3:52) Yet, looking at the graph, PO can get much more bleak before it flashes a buy signal, no? Decisions... As I wrote in the newsletter, solid cash levels is the way for most people to go in my opinion, including
maybe me. ;-)
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