Tactical Update: July 11, 2024 (PREMIUM-UNLOCKED)

by Dana Lyons
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*The following Premium post was originally sent to TLS members on July 11. 2024.*

The price is right?

The Consumer Price Index showed a downtick in inflation last month, prompting a bounce this A.M. in anti-dollar assets. We are seeing the biggest move in the small-cap Russell 2000 which opened above key pivot resistance. It may be a head-fake (would be a big one!), but we are covering our small-cap hedge given the technical improvement. We’re also taking profits in our semiconductor fund as it hits a key Fibonacci Extension (along with the S&P 500 and Nasdaq 100). Also testing rally highs are the metals and miners, prompting some profit-taking there as well.:

  • We sold 1/4 of our position in the semiconductor fund, SMH, near ~282.50 (about ~.75% exposure now)
  • We sold 1/4 of our position in the gold miners fund, GDX, near ~37.70 (about ~1% exposure now)
  • We sold 1/4 of our position in the junior gold miners fund, GDXJ, near ~47.20 (about ~1% exposure now)
  • We sold 1/4 of our position in the silver miners fund, SILJ, near ~13.04 (about ~1.5% exposure now)
  • We covered (sold) our “short” position in the inverse small-cap fund, TZA, near ~17.30
  • *UPDATE: We sold 1/2 of our position in the homebuilders fund, ITB, near ~104.00 (about ~.25% exposure now)*
  • *UPDATE: We sold 1/4 of our position in the small-cap pure value fund, RZV, near ~101.50 (about ~3% exposure now)*
  • *UPDATE: We added to our position in the mega-cap fund, XLG, near ~46.94 (about ~1.5% exposure now,,,prob too early to be buying here, but no Fib extensions on the XLG chart)*
  • *UPDATE: We sold 1/6 of our position in the utilities fund, FXU, near ~34.00 (about ~2.5% exposure now)*

That’s all for now. Check back on this post throughout the day for further portfolio moves. And as always, stay tuned to our DSS posts for further developments — they provide the most current updates to our investment portfolio and outlook.

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Disclaimer: JLFMI’s actual investment decisions are based on our proprietary models. Commentary provided here is for informational purposes only and should not be taken as a recommendation to invest in any specific securities or according to any specific methodologies. Proper due diligence should be performed before investing in any investment vehicle. There is a risk of loss involved in all investments.

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