The Nasdaq, a leading market indicator, is at the point of crossing below its 50 day moving average suggesting stocks may be heading south.
The change in market sentiment is probably due to concerns about high global debts (especially spain & greece). This high debt issue is a legit concern and has the potential to drag global markets down and quickly.
I plan to reduce my portfolio's risk to the markets by increasing my cash position to about 35%. Should the markets continue moving down then I will consider buys short etfs.
I sold my BAYRY and JAZZ positions last night (18/04/12).
ps. My portfolio is not composed of real money. It is part of a game run @ Marketocracy.com
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