Snoozefest

As planned, I shorted another 2,000 AEM @ $70.45, leaving me with one more bullet in the chamber. I am not perturbed by the price action in AEM. I expected to be wrong on my initial trades, which is why I opted to allocated my trades over 5 unique price points. Jewelry consumption is NOT driving gold prices up. It’s all hedge fund bullshit, the easy come easy go money. At the first sign of weakness, those motherfuckers will take their money, run, and leave you  in the shark infested waters without your handy, dandy Teutonic knight style full body armor.

LLNW is screaming here, likely due to take over rumors, being the arch rival of AKAM. Other stocks like ANAD and AMD are running with equal energy, just not as high. Tech is where it’s at today, led by the crown jewel of American innovation, AAPL.  CRE is decidedly weak, as well as banks. But let’s not get it twisted: today is an awesome win for the bulls, fending off a head on assault by the “spastic palsies” (bears) this morning.

For what it’s worth, I am having a decent day, with gains in EWZ, VXX and  TZA. As you know, I’ve decided to allocate half of my cash (25% of assets) into TLT, based upon the win-win scenario produced by none other than The Federal Reserve aka “Clam Bank.” The Fed likes low yields and people buy long dated treasuries to store value. Like I said, win-win.

Into the bell, I expect more of the same. Then after that shit is done, more of that.