With many indicators still at extreme levels I am mostly in cash. Meanwhile, $XLE (Energy Sector ETF) has moved into overbought, almost parabolic territory. Might be a good time to go short.
As well, I have been pleased with my position in UK company $MGGT.L which is up 10% since my purchase at the beginning of the month. What will happen to markets this week? Here’s some links for your reading pleasure.
– Is this when the bear growls? CFA Eric Parnell believes the dawn of a new quarter could be the catalyst for a correction.
– Ten facts about current market conditions.
– Nice video of Warren Buffett on How to Read Stocks.
– Some great advice on this Reddit thread from a penny stock promoter.
That’s all for now. More next week.