Game Plan: An Update

I discussed the current game plan here last week.  In accordance with that thinking I sold a second tranche of securities out of risk appropriate accounts in most of our portfolio strategies today.  Again it is possible that I will be wrong.  In fact it is likely that we will see some sort of snapback in the next few days.  But I think prudence dictates that we remain on the defensive shorter term.

*Long ETFs related to the S&P 500 in client accounts.  Again please note this is information for the clients and friends of our firm about our thinking and should not be construed as investment advice.  Casual readers of our blog should either do their own homework or discuss the markets with their own investment advisors.