The only questions remaining: “Is it baked in the Clam’s Cake?” We moved up nicely into this 1350 area and I took off a bunch of longs yesterday. I’m a bit concerned by the manic nature of market participants recently. Last week they were panicked about a Euro meltdown. Now everyone wants to buy what I’m selling.
I’m betting whatever the FOMC has to say is pretty much baked into current prices. I flattened out my longs and took some $TZA yesterday. I’m not very interested in taking any long term bets here. There doesn’t seem to be much of an edge to look out more than a couple days.
4 Responses to Baked in the Cake?
Great post! It has been very manic. 95% cash here.
I must admit I am more than a little puzzled here. Flipped on the news this am and was told that Germany was willing to bail out the other idiots with a Trillion dollars! I didn’t even bother to look at the PC as I expected a full on melt-fest. http://www.telegraph.co.uk/finance/financialcrisis/9343049/Debt-crisis-Spain-and-Italy-to-be-bailed-out-in-600bn-deal.html
Now, as I settle in to review things futes are flat and everyone is still awating the clam?! WTF?!
Did Merkel front run Bernanke? If the EU has finaly got their act together what does Ben do here?
I don’t think they do a thing.