Update on Ivy Portfolio

Yeah, it was an OK decision not to get back into VNQ on 1st November, eventhough it signalled a monthly close above the 10month moving average.
10MMA Graphs
Reasons for my hesitancy to re-enter a long position in VNQ were:
1. Everything else except for bonds still below the 10MMA
2. Markets in turmoil. Despite the strong rally, my fundamental view is that Europe is going to cause more pain. (So tell me something new)
3. I was waiting for a weekly close, and now we have it. It's back below the 10mth SMA, and below the 200 day SMA.
4. If I had a strong weekly close (which we did not get), then I could have entered a half position.

As it stands the Ivy Portfolio stays 80% in cash, and 20% in bonds (IEF, BND, TIP).

It's been a good learning experience running both the Ivy Portfolio and the Top 3 sectors Portfolio (which is also only in bonds). Both have suffered drawdowns slightly above 10% but have sat out most of the market turmoil.

I am looking forward to attending the upcoming Chris Lori's Highly Intensive , Price Action Filled Forex Trading Workshop this coming weekend. It'll be great fun and highly educational, of that I am sure. This is but one step in my journey to trading success. I've been keeping busy reviewing Chris Lori's Pro Trader Complete FX Course. Lots of work to do before the weekend. Let's get on with it!

On a side note, that "new toy" I mentioned in the previous blog has been put into the thrash can. Come on, I don't need another indicator or system.. what I need is the discipline, focus and resilience to perfect what I have and to construct it all into my own system. Playing with toys like STP (which has been working quite well) is but a distraction, but it will continue to be part of my armamentarium for now. I'll write about that another time, but right now the focus is on PRICE ACTION and how to PROFIT from it!

Game on!

VM