More Box Watching

So I am on the phone with a friend, discussing stocks and things of that nature. I pointed to the intra-day moves in AKS and X and how it would buoy the entire steel sector, with RS being my top pick. After all, it makes so much sense to see met coal producers dive lower, while steel makers shoot through the fucking roof. Shortly thereafter, RS spiked about $1, to new highs. I then pointed to shares of RBCN, pressing higher, only because it is a stupid company.

We laughed and mocked AAPL and MTW, as well as TEX, seeing their share prices spring-shoot higher. Simultaneously, I mocked my cash position and the dust it has collected in recent weeks, exclaiming to be an “umpire of the market, a man who calls balls and strikes, but never picks up the bat.”

This whole market has a very singular feel to it. It just so happens that the longer one stays out, the more one believes, with certainty, that the market is cursed. The very idea of top ticking the market, just like 2011, is to be abhorred.

This will all end with an explosion of emotions, leading to my reentry into the market, with grandiose scale in hazard. However, I am not at that stage, just yet, feeling deeply entrenched in my protective layers, immersed underneath the degenerate grounds of humanity.

On a longer term scale, I feel shares of GLW can only trade higher. And, I am looking at gold and silver stocks, yet again. The risk on market is forcing risk off instruments lower, such as gold, silver and treasuries. Until the worm turns, the vagrancy rules the roost!

UPDATE: I sold out of ALJ and added to VXX.