The Global Futures Benchmark Program pared down a few positions today, reducing exposure by flattening out of the Dow, Silver and RBOB longs. We have to say the RBOB disappointed us as Crude held up much better, however Silver more than made up for it as Silver vaulted up today up 3.8% on the day before settling back in around the mid $19 handle. The Dow also reversed off of its highs prompting us to take profits and run there as well. So the GFBP Positions Tracker is still in a Hedged Long status however we are very close to flipping that Nasdaq and SP to going short NQ and Long SP instead. This is counter trend but extension models are flashing red and if we do indeed turn, the NQ might offer a little better bang for the buck. All this in consideration that the tech sector is where everyone is hiding including all the newbies and as you know when retail comes in at the top well, they always get fleeced:
If we do not get the NQ/SP flip we will be adding put exposure to the NQ to prote…
