Our agent-based measures now view the US market as fairly valued. We do predict the US market will increase slightly over the year, however, we do not see any more major upside as the market is currently fairly valued. One market we see as under valued is the Japanese market. We are reducing our exposure to gold now as we see the past volatility as a sign to reduce exposure and re-allocate to natural resources instead. We still see warning signs in India which also applies to other Asian markets as they are highly correlated. We will keep our exposure net zero until we see improvement in our measures. One market that was in the bottom of our list and has risen toward the top is Russia, RSX. We are now bullish on Russia, more so than the other BRIC countries.
We still like certain key markets such as:
Mexico, Malaysia, and Korea.
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