It's a stock pickers market at this moment and at least a tight allocation strategy is also in order.
For my main trading account (not the Leap-forward Capital), I'm mostly positioned in the agri/chemical stocks as well as gold and mining stocks.
As I have mentioned in wallstreak yesterday, I started to scale out of these positions as it felt like these sectors were overcrowded already and the report this morning could annihilate these 'safe' haven stocks.
Going forward for the next few weeks, I believe that my best strategy is to hold my remaining positions in agri and gold stocks as well as the inverse etfs (SRS SKF) in my porfolio. I will also keep what's left of my oil stocks after the carnage today.
Basically, hold the sectors that could do well during recession and short (buy inverse etf) of sectors that can get bloody during economic slowdown.
3 comments:
Hi MC,
I was insipired with your recent postings about the stock trading robot and was wondering which brokerage firm you use that lets you place trades programatically.
Thanks!
nice trades! We saw some nice breakouts in SRS friday to new highs from a nice solid base.
stewie
really like the blog. wondering whether you will be placing any puts or shorting SSFs in those sectors that could get bloody with a downturn?... financials? manufacturing? construction? retail?
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