We started taking profit a tad early, but can’t really say that reducing risk and reallocating into defensive was a move I’m disappointing with. The PCCs have gotten some purchase pressure and gone up along with health care. Technically, however, we’re now getting bearish and expect a correction of the market to be imminent. (click
OSEBX is now at 277.34 with OBX at 249.54 (locking in 2.7 percent from the buyback 14th of may). The volume at the time of writing is 2,872 million NOK and the momentum upwards with that seems to have faded. We revert back to the initial strategy from the 10th of may. Positioning ourselves defensively
The top around 284 turned out to be correct, but we don’t see a volume on the selling making me shift the target for correction upwards. We have 14 points (5%) correction now and start increasing weights on OBX again around osebx at 270 meeting support levels from both fibonnaci and 200 daily moving average.
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