It was a big week last week in the markets. What looked like doom and gloom when I woke up two Thursdays ago turned very suddenly into a monster rally. Congratulations to whoever picked 11:03 am NLT on October 13th for the market to turn course.

The market has picked up a cool 8% from its lows less than 2 weeks ago. We managed to participate in that rally. I deployed some of our cash into the market to join the party, but I knew when to call it a night. Today we’re back to a stock market exposure of only 58% and I’m prepared to bring that down further as we head into the November 2nd interest rate decision and the subsequent mid-term elections in the United States.

Be careful of the mask this market wears after this short 1-week rally. Afterall, it is the time of year for tricks and treats. Last week may have given us the latter first. This next couple of weeks should tell us a lot.