Aside from this piece that I wrote HERE (and that is panning out to script so far), take a look at the charts below of the CBOE Put Call measure (equity only) and that I find to be a near infallible guide to short term bottoms.
We can see that the print last Friday on this measure of over 1 is the highest for some years and that it coincided with the bottom in May 2012 in the U.S market. That is something I do not want to ignore.
Is the market still overvalued? Categorically yes. Does this mean that at Titan we will trade against what our signals are telling us is the right way to be in the short term? Categorically no. As the saying goes (or a variation of!) – “there is no bull market or bear market, for a trader, there is only the RIGHT way to be in the market”.
We now sit on the bull side in our Global Macro account, from a bear position only last week, and have come through this routing very well with further net equity on our client accounts being added.
For more details on our funds then click below or email “OPEN EVENING” to info@titanip.co.uk to register your interest in a number of open evenings we are planning on running in the autumn period.
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.