Another Day, Another 40

It appears the OVERSOLD signal was spot on with [[CAGC]] yesterday. So you know, at the moment, it is spitting out an OVERSOLD reading in Rio Tinto plc (ADR) [[RTP]] . I don’t know why I WRITE IN CAPS. I just do.

To answer your questions: yes, I am still long [[VXX]] , despite a large percentage loss. Chalk up a win for the peanut gallery. You warned me to avoid [[VXX]] , and here I am getting my face buzz sawed by some lunatic ETF. The way I look at it, being long volatility is a good way to sound smart, but be dumb (that was brilliant. props please). I mean, I can mosey on down to any cocktail party, anyone at all, and profess the endless splendour [sic] of being “long of volatility.” I would speak of my position, with a pipe clenched in my teeth, and people would take a step back, out of deference, to listen to my many strategies and heed warning to my dire predictions.

I’d say “yes, (puff, puff, puff) I am long of volatility, good sir (puff, puff, puff). And that’s it. I’d quickly make way to the nearest serving station and order a martini to my liking, both shaken and stirred.

Seriously, it was/is a bonehead play. My holding period is narrowing by the minute.

To make up for my egregious efforts in volatility, I’ve been buying Johnson Controls, Inc. [[JCI]] and will start buying Fuel Systems Solutions, Inc. [[FSYS]] in earnest. As of now, my FSYS position is very minor; but that will change soon enough. In short, I like the auto parts plays. Look at Cummins Inc. [[CMI]] and see that fucker run, same with Titan International, Inc. [[TWI]] . With GM slated to come public this summer and Toyota recalling cars like they were fucking landmines on wheels, auto parts is the place to be.