We’re teetering on the edge and shorts are pressing their bets. Ahead of a two day Fed meeting, the stakes are high. In light of recent “emerging market” dislocation, will The Bearded Clam opt to let the spigot loose with fiat cash? Or will he embark on the stupid plan of tapering?
The world wants to know and judging by today’s action, if nothing is done, we’re heading lower.
As for me, I am dealing with the punches, upped my cash to about 18%. I’d like to up my cash holdings to about 25% into strength. However, if “this time is different,” I will capitulate.
I am not chasing this bounce, nor selling into it. I am not looking for ideas either. I am simply trying to manage my current holdings, deciding upon possible “average down” points of interest and where I might want to liquidate. Truth be told, the best opportunities come when things look the bleakest. If that’s the case, this is Bleak House and I’ll be your Dickens, guiding you through the mud towards winship.
UPDATE: I sold out of BMRN.
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