A diary of the thought process behind my investment decisions
I don't have much conviction but am remaining unhedged. My only remaining long position is Amgen so there is not that much to hedge anyway. We have seen a lot of put buying in the past two days and therefore I think that any break below Friday's low would be regained pretty quickly. The bears can argue that the near term oversold condition is being relieved by going sideways. This market does not like to make anything easy.