Not taking macro factors lightly. The market has seen sharp corrections due to macro factors in last one year.
Europe trouble lead to April top. Before that Dubai trouble resulted in correction. So reduced exposures to minimum level in pre market. Fortunately got out of big position very early around 7:15 A.M at small profit.
Not in a hurry to jump back in.All the emerging market ETF have topped in last one month, they tend to be pilot fish.
Can always get fully invested if market rallies. Current objective is top protect capital and 67% gains so far this year and not be a hero.
As Jesse Livermore says:
"If I were walking along a railroad track and saw an express coming at me at 60 miles an hour, I would be a damned fool not to get off the track and let the train go by. After it had passed, I could always get back on the track, if I desired" - in Reminiscences Of A Stock Operator