Indeed the stock market did "climb the wall of worry," and now we find ourselves breaking above the 200-day moving average at 4,470, states Steve Reitmeister, editor of Reitmeister Total Return.
New Portfolio Deletions
As such we will take that as a signal to sell our downside insurance policy in SPXS:
Sell all shares of S&P 500 Bear 3X ETF (SPXS)
This move takes us from 59.5% long on the stock market to 77.5% long.
|
TICKER |
DATE CLOSED |
% CLOSED |
PRICE |
|
SPXS |
3/22/2022 |
6.00% |
18.04 |
Why Not 100% Long?
Because it's hard to say we are totally out of the woods at this time. That is a deeper discussion that will take place in tonight's commentary where we review the odds of recession at this time. And since recessions and bear markets go hand in hand...then a very important discussion to ponder before going hog wild again at 100% long. So, 77.5% is plenty good enough at this moment.
Wishing you a world of investment success!
Learn more about Steve Reitmeister at StockNews.com.
