I sense sanity coming again soon. The debt deal will conclude one way or another within weeks if not sooner, and those crazy Europeans look about sort out their silliness soon as well, and hopefully with a move big enough to ward off the big balance sheets away for a while. One can hope this ends the reign of +/- >1% / day market moves. I leave it to Woodshedder to tell us how many times in a one month period we have seen this many >1% moves in the market. This kind of intraday volatility is helping make me jaded old man. “Pfff, don’t talk to me until TNA is up 5% in 2hrs.”

To be clear, I am not hopeful. I am merely recognizing the time for decisions is near at hand. We either all jump off the cliff holding hands together, or wake up and go “Huh? What am I doing here?” and walk quietly away in our separate directions away from the cliff.

I am 75% set for the cliff jump. I am debating whether to short TYH ahead of INTC, or wait until after it reports, or do nothing and stick with my existing positions.

Looking ahead, I will plan for the “walk away.” My heart wants to dig up tech stocks but I will do my best to avoid them. They seem a little heavy to me, but on a historical basis they are still pretty cheap. Maybe I have been too conditioned over the past few years to believe we will ever see anything remotely close to 17x on any of the bigger names again. Who knows? Maybe this time will finally show a return? I am doubtful and will stick to things less focused on by the fast traders. I am no longer interested in having my ass handed to me on a once monthly basis.

Avoiding tech, I will gander at industries and stocks driving inflation. It’s only just beginning.

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