I am still sitting here, with my tall glass of water, watching my holdings decrease in value. I must admit, I am a bit disappointed by the action thus far. I was expecting a 4-5% sell off in my positions. But with my 30% cash position and 10% TLT position, I am only down a mere 0.8%. God willing, the selling will accelerate as the day progresses, properly punishing “The Fly” for ignoring his own algorithms. Since it’s in the past, I will tell you: The PPT flagged OVERBOUGHT on Thursday, making that 7 accurate signals in a row. If you really want to annoy me today, just ask “hey Fly, if your PPT is so fucking good, how come you don’t use it?”
Go ahead, I fucking dare you.
My only solace is seeing gold trade lower. The dollar reigns supreme, pissing on all currencies around the world.
Gentlemen, we are in the midst of a pervasive and severe deflationary vortex. US citizens now have a record $10 trillion in bank accounts. US corporations have over $2 trillion in cash, the highest levels as a percentage of market caps since the 1960’s. I am telling you now, The Fed needs to “create” more inflation. Quit looking at oil and gold as barometers for inflation. The credit markets are absolutely broken, expressly detailed by the lack of home refinances in a super low rate environment.
The only reason why I have 10%+ of my assets in TLT is because we are in a deflationary vortex, duh. However, should the Fed step in with a trilly, in a new QE, I am getting the fuck out of treasuries, in favor of equities.
As long as the European buttfuckers keep the world on edge, this fucking bullshit will persist. Until a resolution is reached, trade the ranges and survive the death tape. “The Fly” is punished right now and is unable to trade, until his penance expires.
[youtube:http://www.youtube.com/watch?v=9g9sNwG2gzY 603 500] Comments »