day moving average (MA) green line crosses below the 200 day moving average red line, signaling a bearish market. Also notice that at the end of September, the

We hope for the best in 2012, but as always will prepare for the worst.

This will also be the year to deploy substantial portions of risk portfolios to developing markets.

I’m hopeful that longer-term trends should soon establish themselves, as markets always eventually do enter long-term trending stages.

It will likely take awhile for the global economy to regain its momentum.

We'll use a more conventional long/short equity approach in our other portfolio.

I now hedge VXX with a VXZ position or solely shorting VXZ, depending on the VIX term structure.

Investing is a zero sum game and a poker lesson applies to short-term trading: if you don't know who the sucker is at the table, it is probably you.