China Down Another 6%!? Time to Get Defensive

It’s time to get defensive, folks.

Actually, several weeks ago was the right time to get defensive. That is, before the turmoil in Greece and China reared its ugly head and punished long-only investors.

Stock markets are down sharply over the last two weeks. China’s market has fallen 30%, and even after a number of last-ditch efforts to prop up shares prices, it’s still dropping –