Being a sceptical optimist and a hopeful pessimist – in short, a typical, jovial German - I have used the Santa Claus Rally on the sharemarket to sell down and go 35% into cash.
BHP closed at $45.82 yesterday and, at lunchtime today, had gone up by another 68 cents to $46.50. It reached an intra-day high of $46.59 and closed the day at $46.47.
Since the 9th of December, I have been selling BHP down by 5% at $45.50, then 7% at $45.75, then another 10% this morning at $46.30, and this afternoon yet another 12% at $46.50.
Cash is King over the holiday period!
