$SPY Although both the DJIA
and the S&P 500 are at new highs, the underlying market might not be as
strong as the two indexes would have you believe. Small and mid- cap stocks lagged again
yesterday while large cap momentum names saw some selling. Overall, stocks
remained overbought and we have the ECB to watch out for today. After the Japanese announced their new QE
last week, many investors expect the ECB will do something in their decision
today which will drive the direction of the market.
My Asset Allocation
Recommendation has again increased to 75% Long – 25% Cash and I will be
watching both $FWRD and $MJN for possible entry points today. I will most likely trade an option position
again today to hedge against the uncertainties of the macro environment. Remain cautious.
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