Cash is King

Thursday, April 07, 2005 | 09:55 AM

I meant to post this last night (it went up at RM) but Man, this market cannot hold a bid, can it?

I've been watching the breadth and the volume, thinking that a rally on decreasing A/D along with weak volume would make for a good fake. But we're not even getting that. It must be tough to be long after enough of these mediocre days -- they just wear you down.

On a personal note, on Wednesday Missus Big Picture and I moved our personal retirement accounts into money market funds (2.7% -- woo hoo!).

If nothing else, I eat my own dog food...


UPDATE:  April 7, 2005 10:05am

To clarify, the retirement accounts are all mutual funds; I am still long a few trading stocks that have not given sell signals. My longs are primarily energy stocks, plus a few micro and small caps,  primarily involved in IP, as well as shares from the company I am on the BoD. Oh, and some company involved in this newfangled doohickey called an iPod.

Thursday, April 07, 2005 | 09:55 AM | Permalink | Comments (9) | TrackBack (0) add to | digg digg this! | technorati add to technorati | email email this post



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If you see us in a longer term range bound market (much like the 1966-1982 period) nothing wrong with cash. Personally speaking... I moved my retirement accounts to cash in January. Accounts which can be more actively managed are different. I am short the NDX, long energy, TLT, GLD, (long) STRIPS and holding a large cash position. I added the long bonds over the past few weeks.

I wonder what asset allocation models would look like if the only periods considered were 1927-1945 and 1966-1982??? I think cash would carry a much higher weighting than it does in the average investor portfolio.

Posted by: John | Apr 7, 2005 10:54:13 AM

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