I want to clarify that in that “Putting on my British shorts” Trade Alert from yesterday that when I was talking about the risk of a stock market sell-off from Brexit, I was talking about the potential for the UK stock market to get hit, not the US stock market. That is:
What happens if the UK votes Theresa May’s Brexit through? If the UK markets don’t want Brexit, then there’d likely be at least a short-term sell-off of maybe 2-3%.
What happens if there’s actually a “hard” Brexit? Well, the UK stock markets would likely freak out and whoosh down, at least short-term, 5% or more.
Other than that, I’m working on culling the portfolio down a little bit as I am uncomfortable with the high number of longs I have, so stay tuned for a Trade Alert about that tomorrow.
And also tomorrow morning, let’s talk markets, stocks, economy, politics, hedge fund and/or anything else you all want to hit on this morning. Join me tomorrow (Tuesday) morning at 9am ET for this week’s Live Q&A Chat at 9am ET. Join me in the TWC Chat Room or just email us your question to email@example.com.