The Glory of Capital Markets Continues to Defy Gravity

In spite of the headwinds, stocks managed to jimmy rig higher. I will tell you this now — the clandestine run in today’s tape was mostly based on WAR STOCKS: old man divvys, military, commodities etc. There was very little participation in software and/or growth names. I would think next leg will be a frantic upwards movement in the prices of natural gas. You see it ebbing at 2008 highs above $6.66. Well soon you will see it about $10, as VLAD shuts off the valves to Europe and collapses their economies.

Although wishful thinking, it’s always a possibility — considering his obstinate view that he wants Russian Rubles in exchange for RUSSIAN GAS.

I ended up the session higher by 1.1%, LEVERAGED at 122% of assets with a 10% hedge in TZA. The bulk of my account is in RISK AVERSE secular stocks. There is a rotation underway and it’s not bullish for stocks.