When YELP’s lock up expired, speculators guessed that the shares would drop, in line with other social media disaster who fell victim to a similar fate. But this time, the opposite happened! The stock soared 22%, comically horse raping shorts and sending them sea-worthy inside of “fag-boxes.”
Going into today, we all waited for the mighty Federal Reserve to print more money for us, so that we might enjoy a little unchecked, hedonistic decadence, and prosperity, through never-ending stock market inflation. Those who bet on QE3, did so in gold, silver and other commodities. If QE3 was not enacted, investors knew that gold and silver might plummet lower, amidst crowds of speculators heading for the exits at identical times.
The exact opposite happened!
This isn’t by chance, but by design!
The mythical powers that be are attempting greats feats of magic, right in front of your eyes. Eventually, you will become so disillusioned by non-sensical events, you will simply give up analyzing news, in exchange for VXX like complacency.
Complacency, order and organized chaos is the game plan, gentlemen.
With my money, I remain in a heavy cash position (35%) and have opted to stay that way until next week. I don’t see a sense of urgency to do anything right now. After all, euro-bonds are higher and QE3 is NOT a reality.
So what’s the rush?