Checking In

Not much has changed since my post on Feb 19. We are in a bear market although the "experts" will debate that point. They'll also debate the recession point and I for one hope they are correct. However, it acts like a bear market and it acts like a recession so Geller Capital will play it much differently here than during normal periods.

Positions have been pared to only whats working for as long as they keep working. And most of the longs in position look ok. Gold positions have been added and act well. Ultra ETFs have been added to offset downside risk and they are helping. All in all, GCM is outperforming the down market however we know and expect it to be a difficult road. And a full list of attractivew stocks is in hand, ready for action. But not so fast.

The greatest risks today are large and include the unwinding of the credit bubble and that's potentially very bearish. But the risk that the Dollar is losing its pre-eminent status and that the Fed has only inflation to fight the debt burden is much more worrisome. And until that changes those Ultra shares may make all the difference.

Stay tuned...