Despite what I really think about stocks, the market is doing EXACTLY what it is supposed to do: digest yesterday’s gains. Even though the euro is getting poleaxed, the yen carry trade unraveling and gold and dollars up at the same time, stocks are hardly down—thanks in large part to computers with bullish marching orders.
From my vantage point, the internals look dreadful, with losses in all major industries sans trannies. Nevertheless, investors have been trained, like hungry dogs, to buy dips. As a result, investors are buying today’s dip: shocker.
As for me:
I am comfortable riding out my [[VXX]] journey, knowing full well it can see $20 in a flash. In my estimation, it’s worth the risk holding, while the euro is getting Greek fucked.
With my money, on a dip, I will add to my POSCO (ADR) [[PKX]] and Eastman Chemical Company [[EMN]] positions, in order to balance out my longs versus [[VXX]] situation that I have going on over here. Also, I will look to lighten up on my [[VXX]] , north of $30.
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wtf? You didn’t sell your VXX on last weeks spike?
hubris
Thankee Sir!
Uh oh, it’s starting to look like V.King may be just a little ahead of his time.
My BRIC squeeze screener: http://www.finviz.com/screener.ashx?v=131&f=geo_bric,sh_avgvol_o400&o=-shortinterestshare
Got some RINO at .85, add .50, stop .10
Pound got pop cuz of talks breaking down so Conservatives could possibly take power…short blip it appears.
The Quick Brown Fox Jumped Over The Lazy Dog
pretty good, eh?