We wrote about the coming correction last week. In fact, it came very quickly and very suddenly. Therefore, our Ideas’ portfolio substantially “has thin down”. Some positions have closed with high profits, some positions – with a slight loss. It’s a profit in result, due to active capital management.
Despite the pessimistic sentiments in the market, we still are looking for long ideas as far. Of course, if seen to short the idea, it is also published.
We do not know whether a long-term drop is now or we having a “time of discounts”. Looking at daily chart of S&P500 index, it seems we have a starting trend Down. However, the weekly chart of index is still above the SMA’s. While crossing the green line of the balance sheet, we don’t panic until index will cross a red line.