Today we sold EEM; Emerging Markets (7.77 shares @ 41.39), IYE; Energy (12.11 shares @ 35.43), EWZ; Brazil (2.33 shares at 75.52), and DBB; Commodities (36.39 shares @ 20.20). In all case we took take gains to bring each asset back to it’s neutral postion. Each showed some recent weakness/slowing. Japan remains the only asset class at the moment that we are holding at 1/2 its neutral position. There have been strong upward movements in virtually all of the 16 asset classes in the portfolio, but there are definite signs of slowing at the moment.
PPP Changes – Taking Gains