• Portfolio Management for March 9, 2017

    Yesterday, I opened a short TBT as I felt that the Treasuries selling was too intense not to bounce back up.





    I placed the TBT stop above the current range.



    It is true that if the 20Y Yields cross over 3%, then selling in US Treasuries will accentuate. However, the US GDP has been revised down, which does not point to higher growth. I might even be tempted to think that the Fed will raise rates by 0.25% while telling that it does not consider raising rates in the future. This would be Treasuries bullish as what bond investor fear most is a trend of continuous rate increases.



    Biotech bounced back up, but the Money Flow still looks weak... because the general market is weak.



    Both stops are far away and the total portfolio risk is limited.





    I am now looking for long positions. Gold miners seem to be attracting some good money. I might open a long position in GDX/SLW or NEM. This depends on US Treasuries though and also probably in a weaker US$.





    For now, the Futures look negative, which is good for a potential oversold reversal.