Serious volatility is scaring the plebs out from their positions. I, on the other hand, am up 0.4% thanks to IMMR and AMBA. But there are dislocations in the credit markets, municipal and sovereign. Also, the REITs continue to get blasted and commodities are death.
Below is a chart of the yen, which looks to be breaking out–not a good sign for global liquidity, a source of funds for just about everyone.
Here are the REITs.
My risk appetite index is at new lows.
The dollar is getting slaughtered, all the while TLT is going lower. That makes no sense at all.
Italian and Spanish bonds are creeping higher again.
If I wasn’t inclined to talk my book, I’d suggest being cautious here. With mysteries abound and the market good and fat, one is bound to get killed. On the other hand, volatility has been dead for some time now and whenever the market looks like it’s ready to rollover, Ben Bernanke rolls the bears into his philly blunt and smokes them.
For now, I am 100% invested.
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WETF?
Aggggggggghhhhmytaint!!!
UPDATE: I am now down.
looking at the price of coffee via JO, pretty soon those fuckers in south america will be giving it away for free…..
boy am I tempted to go long there
and I want TLT at 109 and not a penny more…patience
for a second there, I thought Senor Fly was gonna go all Tim Knight on us
TLT is up more than a point now.
down =0.1%.
FXY lifting off
Finished up 0.06%
The Yen carry trade unravel panic of 2013.
I think panic about to start…. and if it starts in Asia it will be so ugly.. don’t want to think about it
Hey partner, check your e-mail!
DUST baby!
I develped a tolerance to hold it for days now.. scary thought 🙂
Nice. 70 – 71 support gets you 88 in one week. chop chop
Interesting considering Fly is one of the biggest perma bulls.
Correction – Le Fly is a perma winner.
correction… your a Fly nutsucker
Mr. Kong has been telling us so !!
Fly, Regarding “The dollar is getting slaughtered, all the while TLT is going lower. That makes no sense at all.”…..As I posted on the other Blog of yours, it’s the rise in the German 2 year bond that is causing the weakness in the USD, quants follow the spread.
BTW, found that out the hard way from a F/X pro, when I asked wtf is eur/usd in rally mode after OMT could be put at risk.
USAC …saved my nutsack