The QE3 sniffles have been cured, by a double dosage of money lozenges administered straight down this markets throat.
Like it or not; we are going higher.
Yields on EU debt continue to act favorably. The highest risers today were the safehaven countries. The continents’ red-headed step children have better yields by the day.
That won’t last. But for the moment I don’t care.
Because Ben is dropping another $600 Billion into the economy in the short span of one year.
Why should I worry about there being no buyers tomorrow, when someone is ready to buy the store out today?
Meanwhile, I find myself very long with only a trace cash position just north of 10% – holding AEC, CLP, CCJ, BAS and silver.
In other words, tonight I discover myself home at a reasonable hour; finally having escaped the pile of work that has chained me to my desk for two weeks now. It is only a slight reprieve, however. The eye of the storm is overhead, giving me a lull to prepare for the next deleterious wave.
Having just had a small refection, I will withdraw now to spend the evening with the lady, who I have, sadly, been unattentive to of late.
Good night, friends, and peace for you.
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