($SPX, $SPY) Wild action provides opportunity for the brave.
We have to try to make the market's volatility our friend.
Today might have been significant (from a constructive basis), as we see what can happen to the U.S. stock market with the slightest bit of good news.
Hedge funds, institutional investors and retail investors -- as previously mentioned -- are all underinvested. Indeed, after the close of trading, ISI's hedge fund survey indicated that for the last week, the net exposure of hedge funds dropped further -- from 45.7% to 44.4%. That's the lowest invested position since April 2009. (Gross exposure also declined).
So we shouldn't be surprised that the slightest bit of "good news" triggers such a profound spark and positive impact on equities.-D.Kass
We have to try to make the market's volatility our friend.
Just look at the wild action in the last hour of trading and the trading opportunity it presented. But this chaotic setting is only for the brave of heart and strong of stomach!
With this as a backdrop, opportunistic trading will likely trump buy and hold.Today might have been significant (from a constructive basis), as we see what can happen to the U.S. stock market with the slightest bit of good news.
Hedge funds, institutional investors and retail investors -- as previously mentioned -- are all underinvested. Indeed, after the close of trading, ISI's hedge fund survey indicated that for the last week, the net exposure of hedge funds dropped further -- from 45.7% to 44.4%. That's the lowest invested position since April 2009. (Gross exposure also declined).
So we shouldn't be surprised that the slightest bit of "good news" triggers such a profound spark and positive impact on equities.-D.Kass
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