US Strategy: Our medium-term view remains unchanged to what we gave out as a cyclical roadmap in our 2013 strategy report. Tactically, we continue to see the SPX moving into a late Q1 top followed by a first significant (5% to 7%) correction into deeper Q2, which we see as just the beginning of a bigger distributive process into summer. In this context we still expect the start of another significant rally from a deeper Q2 trading bottom into the July/August timeframe, which remains our favored target for a major market peak and the start of a significant bear cycle into Q3/Q4! On a short-term basis we would see strength into March as an opportunity to sell or position more defensively for a corrective move into May.
Zachęcam do dzielenia się "zagraniami".
Obecnie brak pozycji na rynkach akcji (SP500 oddane na spadkach), pozostaje z 25% L na dolara (redukcja w ciągu ostatniego tygodnia ze 100%).