Most people believed the market needed crude to trade higher, in order to get the market going. Crude is up almost 10% over the past two sessions, and the markets have been punched in the face–repeatedly. This isn’t a worldwide market issue, since european markets have easily outperformed us. This is an American problem, one that is likely transient and will resolve itself in time.
With oil catching a bid here and fuel prices super low, you’d have to be out of your fucking minds to initiate shorts now.
There is a tidal wave of buyers waiting in the shadows. Once those fuckers get flushed out of TLT, this market will take off.
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I am so on the sidelines for all this, about 75% cash. I am too risk averse for this market.
Long GLD and short SPY
We are going way down. 1820 is our target.
So much for the market being much higher “three days hence”.
day isn’t over
QED, son.