Well, I picked the right day to sell. I kept a few stocks around to entertain me during the slow, melancholy, days of summer. I had a plan and followed through on it. There is no looking back now.
The PPT nailed the miners, once again– allowing me to book an 8%+ profit in EXK. All in all, the summer of 2012 turned out to be a delightful (no homo) one for me, bucking the seasonal trends in the face of alarming grotesquery.
Now I wouldn’t go short here for a very specific reason. Bonds have been sold, without regard for the retards who own them. Although TLT reversed higher today and is being bought up by miscreants clad in burlap undergarments, the trend is lower. If you look back in time, you will notice that when TLT drops more than 5% in a month, it tends to follow through to the downside the very next month. If that’s the case, stocks will move higher again, ignoring cat calls from the unwashed to sell into the elections.
In my professional opinion, the best course of action is to go to cash, but keep some longs around for sport and leisure.
I intend to press the envelope in my DMND long and will buy more, but only on dips. I am waiting for the Weinsteins of the world to capitulate and fess their unbridled ignorance. At that moment in time, I will sell my DMND position and dance on their fucking graves.
A great man once said “Never fuck with the guy in the time machine or space capsule.” I strongly advise you to learn the lessons of others who’ve made such egregious errors and trade accordingly.
I am 50% cash, looking for opportunity, as always.