A brief update for you…
Since we exited our last PIP-VEVE cycle on 9 January our Government has descended further into chaos (Mandelson a dodgy dealer? Well I never), the Iran uprising was apparently crushed and Trump looked ready to invade Greenland.
That’s quite a lot of noise.
And VEVE (representing global stock markets, i.e. basically the intentions of all investors in aggregate) has reacted by not doing very much at all.
It has been a bit higher than when we exited and is now a bit lower.
In short, despite all the brouhaha, it has gone sideways.
When will it break out one way or another? Who knows, but my guess is that it won’t be the headlines, the noise, that makes it happen, it so rarely is.
As things stand we will be buying VEVE again when it drops to 9521.
Currently it is 9679, which means it needs to drop a further 1.63%.
Famous last words – I am not expecting that to happen any time soon.