I think the only market that did not finish higher in the overnight sessions, was Spain’s market.
At the moment, in many of our processes that call for some sort of directional view of stock indices (and not all of our processes call for such a view), we are long … albeit hedged. Which I think, highlights the need to have an actual, honest to god process with a given mathematical expectency, rather than flying by the seat of one’s pants.
Because if I were flying by the seat of my pants, I would have had zero belief in the last third of this rally.
But despite my ‘gut feeling’, I am faithful my process. Prices are moving higher. I move with them.
And actually, given my comments yesterday, I would not be surprised to see the market rip higher for no other reason than no one seems to be expecting it. So we maintain all of our longs, in individual processes … hedged at the moment.