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Having a look at the market, the S&P500, it looks as if we trade lower. The vertical lift off of the bottom in Jan/Feb looks to have run out of steam for the moment.

Probably time, if you are managing winners, to take a little off the table.

Markets [it would seem] seek to confound the majority. I’m not sure who actually is the majority at the moment, but I’ve definitely taken some risk off via closing Option positions on the stock [which is a pretty conservative strategy] just to reduce my overall exposure, but maintain my market position over the longer term.

I have some newer stock positions that in any downturn, are likely to go deeply red. Value, can always become ‘better’ value. VRX is an example, although whether it is ‘value’ is rather a subjective question anyway.

So time to call a short-term top.

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