I want to buy ROSE, EXK and AG. My algorithms are pointing to bottoming out action in silver and oil. However, I find it exceedingly difficult to allocate funds on a Friday afternoon. Although my bias is to the upside, I am somewhat somber about the prospects for stocks in the near term, due to the lack of catalyst. Nonetheless, we can trend higher based on Italian/Spanish yields easing and money coming out of “safe haven” bonds, which can cause a cataclysmic short squeeze for the ages.
Because of this, I am unwilling to short in size. My HDGE position is managed, small and without leverage. As you can see, it is not getting hammered today, like TZA.
My year to date gains stand at 15.5%, putting me in striking distance (4.5%) of my all-time highs. Just when you fuckers thought I lost, I fucking won.
In summary, I have lots of money to allocate and will consider doing it next week. The mood can change, rather dramatically, should we get a red session in Europe Monday morning.
Top holdings: YELP, NUAN, AVGO, ALK, CPST, NXPI and AAPL (all positions are noted, timestamped and maintained real time inside The PPT, as well as watchlists)