I rarely go under 25% cash, which is my core. But even in bear markets, there are a lot of buying opportunities (for instance, on December 20th, on January 3rd (morning) and just early yesterday, I found myself as close to 0% cash, by the end of the day yesterday, that was increased to just under 30%, having taken some profits in positions taken in the morning swoon (actually, the best was taken in Thursday's after hours debacles in PMCS and BRCM). I presume I will get back to between 50% to 75% cash by the end of next week, and if the scenario evolve as I think it might, be back to low cash in early to mid March. Things change and so do scenarios, so I change my opinion and stand with the nature of the beast.
Zeev |
