May of 2012 is over… it has been painful for the bulls. Hey some of you might not know that it has been the worst month in Asia since 2008, Europe needs no comment and North America? Oh well we know what is in front of our eyes.
Today we have witnessed a window dressing attempt by MM and red curtains have been displayed.
No matter how hard they have tried to make it green, they could not manage to swing it.
I expect a selloff tomorrow, after all June is not a pretty month in the books…
I am still maintaining high cash for now.
In other news: FB rallied today … does anyone really care? It is entertaining to watch nonetheless.
My precious metals position is still neutral, just collecting my 18% covered calls premium.
Happy trading,
Mr.P
PS: Action in JNK and HYG is telling you something.
