3 I keep reading how the “retail” investor is absent from this tape. Mind you, I oversee a gloriously volatile 4-figure Zeeco account. Nevertheless, I do declare, Mr. retail investor: Good Riddance.
The market continues to act like a crack addict scouring for his dealer. With Gold and Oil careening into their technical abysses, there are people (ZeroHedgers) in the streets, screaming, “This is it…No, no, really, this is the one.” Call me “retail,” but I refuse to buy into the absolute nonsense emanating from Sachs’ latest missive on the past few days, namely that the market is just now acknowledging that Friday’s EU Summit was an abject failure. Others are suggesting that the violent risk-off nature in commodities is the harbinger of a China in free-fall. Nonsense, all of it.
In the midst of this week’s leg lower, all I’ve been focused on is the VIX’s relative calm. At sub-30, the VIX belies the above concerns and MORE. I should also note the very real possibility that this is nothing more than an end-of-year rebalancing in gold/oil. I remain highly skeptical of this move and am prepared for a massive upside reversal–and soon. Long WNR, long GSVC. Refiners and pending IPOs is where it’s at–it’s where Tebow wants you to be.
3 Responses to “No Market for Crackhead Investors”
Random
I admire your optimism. However, without additional government intervention the markets will correct.
pedro
In the medium term, yes. Before the end of the year? Not at all. Fitch just downgraded five European banks and futures are off 1 point. THIS MARKET WANTS HIGHER, IT WANTS TO BE TEBOW!
nikolai III
all refineries were up 1%. go go wnr