Defying Empire: Trading with the Enemy in Colonial New York eBook
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Utilizing this methodology and keeping a close eye on sector relative strength I removed international exposure from my clients portfolios and raised a 25% cash position on my managed accounts on May 4th. This was was one day before the international collapse set off by Greece and two days prior to the collapse being felt in our market. By tracking international equities versus cash the international sector was one box away from a sell signal on Tuesday morning. I was already nervous about this region as it had underperformed since January 12th so this was all I needed to make the position to my clients to eliminate it from the portfolio one day before the international market sold off a two days before the 998 point intraday drop in the US markets. I was still exposed to the US market but went into the collapse with a 25-35% cash position in most of my clients’ accounts. I then put the 25% position to work in a US sector rotation model I developed on Friday afternoon as its intraday strength was outperforming all other assets. I suffered some losses toward the days end sell off on that Friday but was positioned for the 450 point rally on Monday Morning and since a 25% cash position was called for in the portfolio I raised the 25% cash position that Monday afternoon for an approx 4% gain on that portion putting my portfolio at about even after the worst week in the markets in recent times. This is an ideal book for professionals with discretion and for the average investor just looking to understand the most basic and simplistic approach to what drives the stock market SUPPLY & DEMAND.