Back from my 'mental' sabatical. Few things have changed over the past few months. Market keeps climbing the wall of worry but the economy is not showing big improvements in the US. My short positions have got beat up as indices moved higher. The VIX is back to the 24 range today after hitting near 20 last week (compared to 81.65 in March and 25 in Aug). This signals that investors are less concerned about a near term correction (this is a warning flag from a contrarian viewpoint).
This still points me in the direction that the market is overvalued and complacent.
The usual Sept/Oct correction has not happened but maybe it will be a scary Halloween correction !! Adding a position to FXP (ProShares UltraSh FTSE/Xinhua China 25 )
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