Virtual Portfolio Update – December 9th 2016 – Portfolio Up 15,16% vs Benchmark up 13,24% // OverPerf. 1,92%

We had a limit on the iShares Nasdaq Biotech ETF (IBB) since Nov 9th post – We are not going to chase the stock at such level but given the expected volatility to come we  nevertheless adapt the limit to 265,50 . Why 265,50? The reason is that a gap will form at today’s opening compared to yesterday sclosing at 265 . Gaps are filled in around 80% of cases.”

Gap closed this week (See below chart) and order executed at USD 265,50 during Dec 7th session.

ibb-gap-closed

In the last 2 weeks booming global markets , we are losing some advance compared to our benchmark given our Precious metals ( Gold , Silver & GDX) “protection” positions and our 1/4 of PF cash level. Markets reaches extreme overbought situation but no clear sign yet of a reversal is to be seen. This positionning including Health care exposure – XLV + GILD – (Sector remains oversold) bought at chepa price should act as buffer when inevitable correction will come.

sp500-overbought

Virt Portfolio positions

virt-portf-open-positions-091216