Let’s review, shall we?
We’ve enjoyed a terrific run, but Europe closed at 5 week lows.
Spanish and Italian yields are 7% and 6% respectively, aka “too high.”
The euro is hitting new lows, down in the $1.22 area.
Global growth has been stinted by the ongoing European crisis.
If you are like me, up near annual highs, despite the global doom, consider yourself fortunate and treat yourself to a vacation. You don’t have to travel to some island, dining on near-extinct animals and enjoying lavish gratuities. Sell out of your shit and take a break. The market is in the process of figuring out if it should give it all back, AND MORE, or run higher based upon the prospect of counterfeit money.
I will not pull any punches with you. As a matter of fact, I’m more inclined to offer you a full-sized punch to the nose, than care about your plights. However, since we are in this together, I will tell you what you need to be told.
TODAY IS NOT THE DAY. You shouldn’t buy this dip, for another one might be lurking around the proverbial corner.
I am in sell mode and will likely push my cash position to upwards of 50% by the end of the day. I do not care about missing out because I have already won. Therefore, I deem is paramount above all other things to preserve my gains until an easier trade arises.