Take Gains / Buy Puts
Macro regime change with several monthly reported Fed series, the big one is Retail sales this week, and after adjusted for inflation, its negative year over year.
Sentiment is way too bullish with AAII bullish reading at the near record levels in the last 5 years
Fundamentals are very poor with the Equity Risk Premium very, very low and credit spreads very tight.
My 97 year old mom's 5% SPY went to cash on Tuesday, the remainder sits in 2 year mostly Treasury Bond Fund
My accounts are 90% cash, 5% rare earth metals and 5% Sept SPY puts (cash value, Notional value = 100% account short) as of yesterday noon
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