America Centric

With the sales of Japan (DXJ), Asia (AAXJ), Fanuc (FANUY) and now India (INDY), I am left with a bunch of US stocks, along with some long-term Treasury bonds, a healthy contingent of precious metals stocks and a good cash balance that I am looking to increase going forward.

I prefer to be involved in what I know best and can see the most clearly, as we enter the projected window for the stock rally’s top (March/April, subject of course, to revision if needed).  That top is expected at SPX 2410, Dow 21,000 and NDX 5500.  I’m not saying the timing and the prices will prove prescient because I don’t pretend to know the unknowable.  But it is and has been an operating plan for many months now.

Anyway, here’s the INDY chart showing why I sold.  It’s the profit, the overbought status and the desire to continue balancing the portfolios (in with the new, out with the old… and profitable).  We had been following India in the weekly report and finally I could not take its prospective look anymore, and added it to the brokerage portfolio.  We increased the focus in NFTRH as it was lurking below and then crossed above the SMA 200.

It is at the theoretical target from the ‘W’ bottom and break above the SMA 200.  Another good trade in the books in a year that is starting out very well.


By the way, India is not overbought on a weekly chart and indeed looks bullish, so fundamental India bulls may want to consider that.  But I am not a fundamental anything bull (outside of the gold sector, the fundamentals for which are still in development) given my current view that the US and global stock markets are coming due for a significant correction at least, in the next few months.  I’ll just keep balancing and portfolio twittling.

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