sitting in my old chair in my tiny office, staring at my 4 monitors and typing this.
my son misses his music camp and i missed taking him there.
looking to establish some core positions before heading out to vacation, still uncertain if that will be rome or orlando. it maybe even hotter in the vatican than in epcot this time of the year....
back to investments!
a couple of weeks ago, fears over china's growth sparked a near 8% correction, i started trading fxi and stayed with the vehicle for 3+ weeks. that position was removed at the end of my son's music camp last friday. overnight, asia rallied further as a series of renewed optimism over 2011 growth set in. with markets up 1 to 2% across the msci index universe. chiu index will not be adding and chasing. with the index at 704.354, it is now +4.274% ytd as of friday and the spx was -0.183%. the index and its portfolios have about 17.5% in cash. the core of the performance had been from a selected group of 6 stocks, including aapl, bidu, gs and mo. i am still uncertain about the economy and my indicators are unclear on the short term with slight bullish tilt for the longer periods.
spx now at 1124.53
1-0 sell
3-0 sell weekly
3-0 buy monthly
i lifted my weekly sell target for bidu from 85 to 88
paul
please visit:
BillyChiu.com
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