The markets remain turbulent. As I write this article, I note that markets in Asia are down significantly. Given how poorly our markets performed, I am not surprised by Asia's reaction. The larger question is, of course, how will our markets perform tomorrow?
As I indicated in prior articles, I am enjoying this turbulence. In fact, I hope it increases. I want to realign my portfolio by closing some short positions, deploying cash on the sidelines, and increasing exposure to precious metals and oils. Should the markets panic and go down substantially, that will be my opportunity. Unfortunately, no one knows if or when the markets will make a substantial correction.
In reading various articles, I have not read much that is enlightening. Either, do not worry because employment is strong and the economy is healthy. Or, worry because we are on the precipice to a large meltdown. My own personal views are that there will be some pain before things get better. Because the economy is reasonably strong and vibrant, however, we will not experience a severe downturn in the economy.
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