Down Days
When to buy the dip and when to puke.
There are two kinds of down days. Down days that feel bad and down days that feel good.
Today was the latter.
Today’s piece will explain why, and why we added risk today rather than took chips off the table, even though we’re trying to trend down over the next couple of months from 20 vol to 15 to make the portfolio more institutional. More on that glide …
