This is not the tape to fade, at least not yet. We’ve got a wall of worry 1,000 ft high that needs to be climbed. The trolls from deep underneath the bowels of the earth and rampaging thorough-out the countryside, eating all of the strawberries and drinking all of the cream. Those evil men, orcs, will be dispatched soon.
My position is to trade gingerly, but not in an effeminate manner. I have balls the size of cannon grape, but I don’t feel particularly brave now, so I will trade small in size, but BIG in concept. I am very long gold — because the recent declines in the miners have been wildly overdone. Also, I like some piece of shit stocks that have ample levels of cash, one of which was bought inside Exodus today.
The orcs will tell you to sell short now. I think they’re wrong. Eventually, they will be right, as the demand for “retesting the lows” grows. For now, markets want higher. I stand by my opinion that your long term portfolios should be in cash in favor of a more direct approach. to investing — trading the ranges.
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