New Pair's Initiated

New Pairs Trades

For more information on our pair’s trading methodology please click here.

Long Silver (SLV) / Short Gold (GLD)

Long Utilities (XLU) / Short S&P 500 (SPY)

Long iShares JPMorgan USD Emerging Markets Bond (EMB) / Short S&P 500 (SPY)

Long iShares US Home Construction (ITB) / Short S&P 500 (SPY)

Long PowerShares Emerging Markets Sov Dbt ETF (PCY) / Short S&P 500 (SPY)

Long iShares US Preferred Stock (PFF) / Short S&P 500 (SPY)

Portfolio Update

Long Consumer Staples (XLP) / Short S&P 500 (SPY)

This trade has really moved against us today. We believe it still rests on support and short-term momentum is still positive. We still believe the “defense trade” will work over the next several weeks and months.

Long Health Care (XLV) / Short S&P 500 (SPY)

Admittedly we should have waited for a MACD bullish cross before going into this trade. We broke a rule and it hurt us. That said the Health Care sell-off is overdone and we hold a small position in the pair. We will be watching for an improvement in momentum and build on this position.

Portfolio Metrics

Joseph S. Kalinowski, CFA

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