While MM likes the “Millionaires Factory “ as it’s so colloquially referred to in many circles but our 7% position feels a touch rich in today’s risk-off environment, we have been evaluating whether to trim back our exposure over the coming weeks. MM has been considering taking profit / reducing our fairly large MQG position around the $180 area.
- MQG has a reasonable exposure to the UK and it was one the markets largest casualties during Brexit, a strong UK backdrop could help the investment back rally in the coming weeks.
MM is bullish MQG short-term initially targeting the $180 area
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