We are in a meat grinder until the Fed disappoints and sends stocks lower. If I was 100% certain about the outcome, I’d sell my stocks and sit with VXX. However, there is nothing certain in this God-foresaken whore of a tape. I have no choice but to sit tight and watch my equity bleed out, drip by drip, until a resolution has been made.
The miners are acting fucktarded and VXX is looking great. I am not sure what type of backwards world I am in, but know that I am in it. LNN is now trading by appointment and JACK is trading the fuck higher, dumb old Mexican style.
I don’t think the action is bad at all, with exception to the earnings catastrophes, which is what alarms me. With TLT up near $130, we should be spiraling lower. I cannot explain why the market is so strong; therefore, by default, I am opting to wait for a better tape.