Looks like somebody else agrees with us that caution is now the watchword

Must viewing by Tom Demark – one of the worlds best technicians.

Whilst we don’t agree that the markets are an outright sell, we think it good risk management per our post below to reduce long exposure after a great run and cracking profits. As such, we have positioned ourselves accordingly with Put spreads on the UK market and selected shorts on heavily overbought stocks in the UK & US – Next, Facebook and also long the negatively correlated with equity markets FX pair – GBPAUD.