Thursday, August 11, 2011

Markets are in Free Fall - here's a brief Review of our Forecasts:

January 2011:
"You can still buy the next 7-10% correction, but be prepared for a larger decline into the Summer or late Autumn".  (Part of our annual outlook, published in January 2011)
July 14th:
"Markets do not look healthy. We have exited all equity positions" (also posted on my Twitter Account)!/Compass_Capital  (see post from July 14)
July 28th: Message to Advisory Clients:
"Medium-term, more weakness ahead! Privately, we have opened a small index short position". (sent to clients only)
We remain pretty sceptical about the current market situation, as there seems to be no catalyst around for a sustained upmove.   
Nevertheless - we have covered our small index shorts on Monday and will try a small speculative tactical long position around these levels (August 11), but with pretty tight, staggered stops to the downside.

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