Quote of the day – look out below!

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“It may also be helpful to remember that market peaks are a process, not an event. In the presence of a broad range of reliable valuation metrics uniformly at more than twice their historical norms, coupled with the most severe overvalued, overbought, overbullish, rising-yield syndrome we define, it is instructive how shorter-term action has evolved near those points. Outside of today and 1929, the other two instances are, not surprisingly, 2000 and 2007.” John Hussman 

AAII reaches lower extreme of bearish sentiment

With the S&P now having rallied for a full 3 years without a 10% correction and fear non existent, we have moved, once more, to a maximum short position in our Macro fund here at Titan during the last 24 hrs.

Clear disclosure – Richard Jennings and/or Titan funds are short the S&P 500 futures. This piece should not be taken as an advocation to buy (or sell) these instruments and you should always take independent financial advice in relation to your own circumstances. 

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