I am seeing a lot of China-centric names running higher, particularly steel and copper–even aluminum. Names like CENX, MEA, RS, FCX and a slew of cement stocks are strong. On top of that, domestic retailers are near new highs. If I didn’t know any better, it looks like the global growth story is back in play.

Now that doesn’t mean get long MTL in size and never look back. For fucks sake, this market is almost as bipolar as “The Fly”–switching from one macro-thesis to the next, without a care in the world.

Two new stocks on my radar are BYD and MEA. Actually, I’ve been eye-fucking (no pervert) MEA for a few days now. I haven’t bought any yet because I already own NAK, CVO, TC and PPC. Next thing you know, BAM!, the market gets lit up and I’m caught long a portfolio worth of shit micro-caps.

For the young punk motherfuckers out there: remember to lighten up when shit is rising to the top. It’s always a precursor to a nice stiff correction. In this case, there is a strong chance we will sell off after Thursday’s Fed meeting. Why the fuck not?

At the moment, I am rolling the dice, 90% invested long. I will not add to any positions from here, as I am looking to unload into strength.