Monday, December 29, 2008
Thanks For Being With Us
We have abandoned 5% addition to our portfolio. Market has taken perhaps most of the gains we had in that. But we kept lot of profit from another 5% we sold higher and earlier in the high 800 range. Let us see if we can find a nicer, easier entry point than the ones the market gave us last few days and we can make decision about purchase again. Meanwhile let us march ahead with 40% being ivested in the Equity market. And let's keep our monetary and mental CAPITAL fresh.
Today was exciting also in another regard. While stock market staged a nice recovery towards and after the closing , the Dollar has made a HUGE recovery of the losses suffered early in the day. It amounted to almost 2.5% or so in Siwss Frank terms and it was, at least , around 1 percent against Japanese Yen. I did express the sentiment this morning that Dollar "beating" seemed to be overdone. We shall see, if this is the begining of the Dollar recovery we projected , for a long time, into March/May 2009.
In another Asset realted action, I suggest that those who did and follow the asset skew towrads GLD-USO ( i.e. prefering gold over oil) (and has made a killing, while world was getting killed), should now start slowly, but surely unwind that skew and reach the opposite side within few months(3-4 months). We shall reaxamine this unwinding if we see the market correct this spread faster(slower).