Keeping Your Eye on The Big Picture
While it would have been nice to have traded this last knee jerk downside reaction of the Bush era I would rather look forward to the main move for 2009, a rally to the 1260 area of the S&P 500 with the first resistance at 1060. We have our positions in place now, with the additions of more long gold and reinstating the short t-bills.
During most of the period of our track record from 2002 we have had very low position turnover for this type of active investment account, less than 300 percent, in the past year it has been close to 700 percent. This is higher than I want to sustain, so look for less short-term trading from here. I have looked at providing a fee based short-term trading program but that would require more involvement than my semi-retired status allows. You can always provide comments that could change my mind. Most of the comments from readers this past year have been from the disenfranchised “Joe the Analyst” types, probably relatives of Joe the Plumber, who dislike my belief in change and the coming Obama era.
The NAV on the EMA ETF Fund closed at 961 yesterday
7:52 AM CST