Where Next - 15th August 2019
Are you Defensive Yet?
The 1 thing the Stock Market likes to do is move… it’s no secret that every now and again, price likes to fluctuate rather dramatically and again and give us a stressful White Water Rafting experience on Wall Street.
Although there are many CNBC / Bloomberg commentators presenting a bullish thesis at the moment and acting like their positions are not being wiped out by stop losses… the simple truth is… if you’re NOT even slightly defensive at the moment… don’t be surprised if Wall Street takes you on a journey that closely resembles that well known horror flick - Hostel…. I wasn’t a fan of that unnecessary European based horror, and I take the view there are many horror stories that are preventable on Wall Street, so hopefully this helps a little to see what I’m seeing.
Let me follow up by saying, Im neither bullish nor am I bearish on US Equities at the moment, I’ve very neutral right now and awaiting the next moves with price.
The weight of the evidence lends itself to adopting a cautious approach right now.