- We have had a series of lower highs.
- Friday saw one of those volume spikes that suggest there may be a change in direction.
- The time of year is right for a pull back at the very least.
- And the fundamentals are starting to point in the wrong direction.
- QE is coming to an end,
- people are starting to speak of rising interest rates
- the economy is coming out of the doldrums so governments are going to take their feet off the accelerator.
- I've read reports that insiders are nine times more likely to sell shares in their companies than to buy them. What do they know that we don't I wonder? Perhaps they're expecting profits to stall.
I have cleared the decks. I took a small but expensive excursion back into gold when I thought the yellow metal might recommence its rise. I've pulled out of that too. Very often a sell off is a sell off. Avoid risk at all costs. That usually benefits the Dollar, the Yen and the swiss Franc.
So I'm set for the summer. Provided I do not fall into temptation.
That was an uncharacteristically clear expression of my belief. I have acted on it. But I may still be wrong.