Yesterday happy face became a real sour puss today as the Dow tumbled 334 points and the VIX rose 24% reaching the highest level since February. Worries over instability in the Eurozone were supposedly the catalyst for the selloff and XLE took a particularly big hit.
The Beta model has been merged into M3 to produce a new M3 platform that is a true Long/Short model. Today's update in the new format is posted on the M3 site, Login Tab.
The lack of a Long signal yesterday turned out to be a good thing today and...no surprise...the model is remaining in cash for tomorrow.
M3 site tabs will also be updated in the upcoming week or so to reflect the new 6 ETF/ETN mix.