Fed slow down in easing caused more profit taking

After Fed comment that at sometime later this year. Fed may slow down easing policy due to confidence of economy is growing optimistically.

As we always believed, when Fed is easing, money becomes smaller. If Fed stop easing, economy is growing and creating demand. In both scenarios are good for equities except temp adjustment.

We also think that the world economy is not going to balance their books. This a disaster will come but we don’t know when. We believe a natural disaster will come even quicker to crash the market. Before these two we believe market will still be strong.