Sticking with the larger theme over the past two weeks, my portfolio is melting higher into the close. AEC, CLP, CCJ, BAS, and RGR are all rushing up, either for profits or, in the case of Ruger, to close the day flat. Which, given Ruger’s last month, is really not a problem at all.
Physical silver has largely recovered from the Fed scare. The euro has also rebounded after Junker tried to talk it down.
My expectation is for higher prices. We are running, and only confirmation that the recovery is not happening will stop us. If you are betting against the indices, or are out of the market, I have bad news for you – that is months away.
You are stuck exactly where I was last year; having the right answers, but getting whipped anyway. It will come through for you in the end. But unlike 2011 and early 2012, this time I will be mocking you, sipping straight whiskey, and the pain will only end after I’ve locked in profits and position myself against the market.
So I am afraid you will be on the receiving end of jokes until at least March…
Expect treasuries to sell off as short sellers start trying to edge into that trade. The rising yield will only add to confirmation bias, bouying the stock markets higher. Both trades will fail in the Spring with bad prints going into summer.
The treasury bears will be killed at least this one last time. The markets will sell off again. I personally will be interested in building a short euro and short oil position sometime in the next two months.
5 Responses to Damage Erased Into The Close
For your RGR viewing pleasure Mr Thaler.
BTW, is it safe to come down to Detroit? I have to spend the upcoming week ensconced in the Marriot Ren Cen taking care of small time political business.
Absolutely it’s safe. Ask the esteemed JakeGint, who came to visit just this past year.
It’s not safe. Caine doesn’t live in the urban centre. You have a 100% chance of either being robbed, raped, then murdered.
Actually the urban center isn’t dangerous. It’s the suburbia that wraps in a 20 mile ring around the city.
Perhaps building a long VXX position into March