Actually, my model has not changed, I have a gradual (two steps forward one back) rise into the first week of November to just under 1800, we are still some way with the healthy correction late last week, and today, finally, new highs expanded nicely on the naz. The equity P/C ratio got a little too exuberant, but not enough and not for long enough to cause my turnips to change their current short term (two weeks, roughly, left) positive outlook. Mind you, as I have said before, the easy money was made in the last four weeks. I a now gradually increasing "end of the day" cash, it used to be around 80% to 85%, and it is coming down to the 70% to 75% and will decline further as we move into November, going probably close to the 45% to 55% cash.
Zeev |
