Personal Mail_08Mar – Cash, and a visual recap


We still in cash, despite a rather extended bullish run in US and a somewhat sputtering bullish tilt locally.

Market breadth is still negative, so there is no proper backing for any rise in prices for the past few days.

Here’s a quick visual recap of the ups and downs of 2012.

We have managed to hitch a ride on all 3 major positive runs in

Jan, Jun and Dec. We have also avoided the 2 big selldowns in Apr and Nov. Of course we were also stuck in the ranging markets in Feb/Mar and Aug/Sep

period, experiencing some whipsaws…a which were mitigated with good risk and money management rules.

So 2012 was good…but it does not mean anything for 2013 at all. We may do better or worse.






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