The Driving Force…………with ETF Update…Update2
I can tell from my emails that the driving force behind this current rally is the wide disbelief in the Green Buildout. I agree that a huge task is being formulated and there is a high probability that it may fall short in the long run, but in the meantime the market will beat most of the investors who are trading on past data, into being believers.
Each day during this contra-cyclical move we will try to provide the level where the market has hit an extreme upside objective. This objective is a moving target, today it is the 988 level of the S&P.
6:50 AM CST
UPDATE at 10:18 AM
We have sold out the two energy ETF positions this Morning, XLE at 51.71 and DIG at 33.09. Also in the tracking portfolio we have covered out short T-Bond position.
Update 2 at 2:42 PM CST
Bought $ 115,000 of double short ETF “SDS” for $ 1000000 account, effectively covering 23 % of long positions.