Bearish technical analyst

We turned bullish on equities and risky assets six months ago, and turned bearish about one month ago.
If a bubble is supposed to get bigger, the model usually picks it up, China has been our top position for a while (currently still hanging by a late thread).
The speculative rally in most global stock indexes, emerging markets and junk bonds should soon turn into a major liquidation.
Short term rallies are probably great selling opportunities and a last chance to get defensive beforte the consenssus wakes up to a market reversal.
Michael Belkin February 5, 2007.