XLE 1D TW

Sometimes the only thing to do is to sit on the sidelines. SVT made a huge profit this year (more than doubled its portfolio) and it's really good to sit and wait for a good setup to enter into any position. The only position SVT holds is short energy 30% and a small (25% long position) on miners.

No plan to add more, rather close positions. Asset position is the primary task from this moment.

Equities

The whole complex of US stocks are in levitation. SPX to form a double-top. Not a good signal.

Dollar

Dollar is being pushed down. It follows our forecast absolutely punctually. What is happening in the background is scary: again, dollar is going down and JPY is strengthening. The well-known currency swap issue arrived again. Not a good signal, it can generate a new selling panic in stocks.

Miners

Miners are performing a triangle consolidation and this pattern usually shake both the bear and bull side. Sitting on the sideline is better. The resolution is a high probability pop-up and then drop. We have clear fake bull setup on miners, so this is the time to get rid of the miners long position. Few % of gain is good and it's all.

Energy index

We carry some energy shorts as well. Further, 5% of drop is expected at least, SVT will hold this short for a while.