Weekly strategy review

For the last week the two main points were:

1. How safe haven trades (TLT and GLD) acted against major resistance. As it turns out TLT weaker but GLD stronger.

2. Positioning with the March pivots; stock shorts would be easier, if indexes dropped below MarPs placing them back under all pivots. That didn't happen at all. To be fair last week I mentioned more cash if stocks were above MarPs, as this was more of mixed scenario (ie below 3 larger pivots, above monthly); yet this assumed already decently back to bounce scenario from 2/27 or so. 

As it turned out virtually all stock indexes opened above MarPs and rallied up quite strongly from there, all the way to major resistance levels (see next post). The mid February idea I had on emerging markets specifically EWZ, RSX and to some extent EEM was really good; but with the shuffle got in and out of those, unlike DIA / SPY did not say get back in 2/25. But you certainly could have - more on EWZ here. 

So how did things turn out? I may not have time to constantly update an entire Pivotal Portfolio, and that is going to be your discretion on how to use this stuff. But holding or adding any stock longs was right idea above MarPs. The one asset to drop under a monthly pivot was TLT, so a reduction on that possibly warranted depending on how active you want to be. Longer term investors should hold above long term support. More on that here

I also mentioned ways to shift more bullish in a SPY daily section here.