My first post on this blog was about the queasy feeling I would get every time the DJIA approached 18000. How quaint. But then again who among us would have predicted DJIA 20000 just last April? It is all madness, and we know this. It didn’t just shrug off 18000, it blew past 19000 and has been on fire since Election Day.
We know it yet most of us, once again, are staring into the abyss, certain in our ability to time The Correction even though the most astute among us has surely been spanked by irrational exuberance at least once in our wretched lives. And vice-versa. Getting the fuck out at the right time is a beautiful thing, though rarely achieved.
Needless to say we should wide awake as we move within 100 points of 20000. Watching the S&P VIX rise right along with the S&P. We have been here before. We are Professionals. Nimble traders. We learned our lessons in the last century, before the phones took over.
I added some $UVXY to the portfolio this week as another hedge along with my $AU and $TLT. I did cut back a bit on some TLT shares today and I am now at cost, factoring in dividends. Grandma Yellen, knock yourself out. With The Donald entering the stage, all bets are off. Will the Trump Effect continue? Stay tuned.
Energy space is soaring, thanks to the men in the white robes and our friend Vlad Putin. Has anyone gotten the memo about the Permian Basin yet?
Many Blessings upon you in 2017.
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