@hazyg - my Geniuses are a group of so called active fund managers in New York. Each Wednesday they publish how much of their money they have invested. They are a brilliant indictor - do the opposite to them. At the recent top they were 102% invested which means they were slightly hedged long. The market has had a small reaction (less than Australia) and they have now have only 50% of their money invested. Once the market firms, they are going to be in a hell of a hurry to get back into the market.
