I think we have gone from a sector boom market to a classic bear market characterized by sharp bear market rallies, supported by short covering, which inevitably must peter out as dismal economic stats roll in.
I closed out all my short and long positions and have kept only my CGM Focus Fund holdings and some CurrencyShares. I'm thinking of closing out the CurrencyShares since it seems a bit arbitrary to make assumptions about currencies in this situation. And I'll be darned if I can tell when a bear market rally is coming and when I'm supposed to sell it which is why I closed my longs and shorts.
I wonder if Ken still holds to the view that there is always a bull market somewhere? Or is he trying to turn the battleship around and sail a new course?