I sold VXX to draw a line in the sand, take my lumps and move on. But now I find myself trying to allocate capital and there is nothing that interests me.
Am I supposed to buy oil when it’s +4?
Gold and silver are up, but the fucking miners suck. As a matter of fact, the very best place to put money right now is likely nowhere. Or, perhaps TLT is an interesting buy down here?
All I know is this: August has managed to fuck me on an annual basis. This is a situation where the temptress is attempting to lure me back in, so she can slice my head off and play with my innards.
NO THANK YOU, TEMPTRESS WHORE!
I will take my 45% cash position and angrily go about my day, bitter at the world for creating the conditions that led to my VXX purchase.
CAVEAT: I am still seeking a buying opportunity. I may be able to find something before the day ends.