Monday, April 10, 2006

Current Position

As of this weekend the market is still on an equity buy signal.

As a general rule I am usually fully invested in equities (half in the Fidelity Emirates Managed Equities Portfolio, half in the Merrill Lynch Managed Equities Portfolio) when the charts indicate to be long the market. When the charts indicate to be out of the market I switch to cash in either USD, Euro's or Aussie dollar depending on which currency is displaying the greatest strength.

I have found that the best chart to judge buy/sell signals is the Dow Jones World Index. It is more liquid that the MSCI and in my research tends to somewhat lead the MSCI.
Dow Jones World Index 6 Month Chart:
DJW PNF Traditional


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