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New Column up at Real Money (02/29/05)
Posted By Barry Ritholtz On March 30, 2005 @ 7:11 am In Media | Comments Disabled
Here’s an excerpt:
"Yesterday morning, I warned clients to use any lift to sell equities. CNBC reported on the call in the afternoon, and many readers have asked for a more detailed explanation.
Last week the market became so oversold that a corrective bounce was due. We saw that move begin in Monday’s rally. But don’t get too excited yet: I expect this bounce to last a week or so — two at most — before the markets start heading south again in a selloff that I expect to last until early summer, and bring the Dow down to the 8,800 to 9,000 level.
As such, I have been advising clients to use any lift as an opportunity to exit most of their long positions. In particular, I have been exhorting managers to sell cyclical, rate-sensitive and high-beta holdings.
I have aggressively sold equities, and I am now about 50% cash. I expect to be in even more cash by next week . . ."
Repositioning Before the Selloff 
3/29/2005 2:15 PM EST
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2005/03/new-column-up-at-real-money-022905/
URLs in this post:
 Repositioning Before the Selloff: http://www.thestreet.com/p/rmoney/barryritholtz/10215156.html
 The Trap is set: Last Chance to Reposition: http://bigpicture.typepad.com/comments/2005/03/the_trap_is_set.html
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