Time to make a change and sell our Euro position at the market open tomorrow. I think the multi-month bounce I was expecting from a deeply oversold position is now over. Still have very little interest in the macro picture, this is purely a technical call.
- Sell 25 SPY @ the Open
- Buy 115 WDTI @ the Open
This is Wisdomtree’s Managed Futures ETF. I am not sure if it s the best ETF representing the CTA/Managed Futures market but I think it is a great diversification instrument and should be good enough for me to beat the S&P500 over time in a risk adjusted way.
Here is a look at its performance since inception against SPY.
Sell 75 OIL at the close.
The following positions will be added to the portfolio at the market open:
Buy 100 SPY @ open
Buy 500 OIL @ open
The only thing I wish to comment is that I maintain the US Indexes are still extremely overvalued and I will need to see a significant correction before getting too constructive on the portfolio.
I think this average of the valuation metrics I subscribe to says it all, we are still very overvalued.