I booked gains today and stand before you +105bps to the good, scared to death to they’ll absconded from me in what looks like yet another rug pull in the making. It’s easy to lose money in a tape like this — low breadth nonsense — fucked.
At 60% breadth and murderholes popping up behind every corner, I think it’s safest to cower in the comforts of cash, looking at the market side-eye, secretly wishing for COLLAPSE while in this comfort. It is my belief, at some point this year, the market will dislocated and head lower in a substantial manner. However, the timing of all this is up for grabs and who knows what happens this afternoon.
For now, +5.6% MTD, +200% YTD — scared to death of giving any of it back.
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Schadenfreude at its best.
Risk is coming, i assure you of that. it’ll will only take 1 very bullish non farm payrolls number to scare the living sh*t out of the bulls in terms of the pace of the oncomming taper. but that of course will be a buying opportunity. i’d look for silver and gold to rally during that period as well as interest rates crash through the floor boards.
Fly, right now …it’s time to watch for half-way-back buyers after this morning’s failure to break lower in silver.