Isatrader and I were discussing yesterday about moving into a more defensive portfolio position now that the "Bear Confirmed" status on the moving average charts has been confirmed and a potential head and shoulders pattern is forming on the Dow charts. I'm curious to hear some feedback from the group on what going "defensive" in your portfolio means to you... Are you pulling money out of the market until we go back into a bull market or are you positioning your portfolio away from long positions and towards more shorts?
I think I am leaning towards the latter rather than pulling my funds out entirely but curious to know what others do.
Thanks,
I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over again in my life. And that is why I succeed. - Michael Jordan