Thursday, July 6, 2017
7/6/17 Can't Find My Way Home-> All Positions Off!
Closing positions in EEM (emerging markets), FXI (China 'A' Shares), EWZ (Brazil), RSX (Russia), and XLE (Energy). Will do the same with positions in VEIEX (Vanguard Emerging Markets) and VGENX (Vanguard Energy).
Why? A few of my thoughts:
(a) Since (re)opening all of the above positions on June 12, prices have dipped below my basis points twice and then bounced. Prices are about to dip below for the third time today. Being a guy who tries to 'listen' to the markets, that's a pretty strong message. (It may also be another fake-out decline that launches the next leg, but that's not how I'm leaning.)
(b) The only way I can outperform markets is to keep my accounts near YTD highs. By selling today, I'll be maintaining balances near those levels. With the exception of assets in XLE and VGENX, all positions have been closed/ will be closed near their June 12 prints. On the bright side, I was also able to capitalize on end-of-June dividend payouts in most cases.
(c) I could continue rationalizing today's sales, but the bottom line is my 'gut feel' is signaling a sell.