With the dollar strengthening, gold dropping and stocks exploding to the upside, I will not throw anymore retarded shorts on the barbie.
For the moment, everything is in the bulls’ favor, with the marked exception of Cramer disseminating more egregious rumors—this time regarding [[FNM]].
Nonetheless, it makes sense to go eat a ham sandwich or go bowling, instead of fixating on today’s tape.
By the way, with the GSE market normalizing, [[CMO]], [[NLY]], [[ANH]] and [[MFA]] are rallying.
Finally, it’s worth noting, overzealous investors get the proverbial knife to the chest treatment often. It’s going to be a long year, with loads of developments. Be patient and make your next move moderately.
NOTE: Oil is bucking the trend here, up on the day, while other commodities trade lower. Frankly, I don’t know what to think of it. If you want to short crude itself, sell [[USO]] or buy [[DCR]].If you enjoy the content at iBankCoin, please follow us on Twitter