When we reach the very top of the market, no one will know. We’ll all be high off the o2, moving around sideways, like a crab, doing the money dance. Today has all the hallmarks of a topping formation, all the way down to weak miners, even though the raw commodities are higher.
I am up another 1% today, putting me at 22% for 2013. Those who know me understand that I do this on an annual basis, get real, real hot, so hot that I blow up–spectacularly–later on down the road. HOWEVER, to borrow a whimsically joyous phrase from thousands of great men in the past “this time will be different.”
That’s right, my friends from interland. “The Fly” will not pick up that hand grenade (CALL) that is without a pin and put it in his pocket. I’ve been a little proactive this year, taking on short positions when I usually throw it all into the oven, turn the dial up to 510 degrees, and hope that it doesn’t burn.
I am making money in all sorts of bizarre (BV) ways and feel that I am at a cross roads (CRDS). I was once down almost 15% in WNC, now I am up 1.2%. At the moment, USG is an underperformer, but I have faith in the wall board, especially since I am going to be needed a great deal of it soon.
My largest position is RAS and that has been a rock.
Leverage to the upside stands at 110%, AFTER my shorts, so I am fairly exposed here. Nonetheless, I will be in sell mode soon enough, the closer we get to tax day (4/15). Because of my gains, I can afford to take on some risk now and be patient with losers, even average down.
I’m just going with the trend here, the never-ending loop of history that keeps the economy going.
NOTE: As predicted, CWEI took off.
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