I sold Cenovus Energy this morning, bringing my cash position to 40%. I’m also shorting oil via SCO and shorting the S&P 500 via SH. If there is more upside, I still own Santander, Tencent, and ONLN (online retail).
The key here is not to be bold and brave because the bold and brave get cleaned out. This is a treacherous market, but if the algos are right, Retail and Consumer Discretionary will outperform the market in the next couple of weeks and both WTI and Brent will continue to trade down.