I'm out again. A nice lift this week but I'm happy to take profit at these levels, a bit concerned that we will get a head a shoulder pattern forming on major world Equity indices this week - e.g. the SAP-500 is now again over 1980 and IMO will come under pressure again tonight. If I'm wrong and it does manage to punch through 2000, I can't see it holding there for long.
Don't you think it's just a bit weird that when the US reports deteriorating jobs data, low CPI and a drop in Retail Sales, that Wall Street actually gets BULLISH (!) There is some flaky logic that the Fed is less likely to raise interest rates this year or next, and that's good for equities. It's economic insanity that worsening economic data is being interpreted as good for the economy and therefore good for business....just bizarre, and it cannot last.
Most of my investments I'm moving into gold stocks, BEAR.asx and one or two other defensive stocks...with the rest on the sidelines in cash.