End of Financial Year Cannot Come Soon Enough... | Hedge Funds Betting "Yes" for Referendum.. | Protecting the Portfolio: VIX Index |

Good Morning, Aren’t we glad it is June 30 and the last day of the month and the financial year……. We certainly feel “battered and bruised” at the moment and we expect further weakness today, as the FY comes to a close…. Although the Dow Jones – 350 points overnight, the very fact that the ASX yesterday fell by 124 points, suggest that our market already factored this in… So today, won’t be as bad… Another interesting point (If you look at the below headlines), is that hedge funds actually expect that Greece will vote “yes” in Saturday’s referendum…. We certainly hope so….. The USD fell overnight, which may support currencies… One way to protect the portfolio is to buy the Volatility Index (VXX), which will act as a “hedge” for your blue-chip shares… Another way is to simply wait for this to unravel and look for great buying opportunities… Let’s kick off the 2015/16 FY on a better note…