Things are starting to unravel a bit despite little more than a ripple showing on the surface. Sellers showed up and knocked the Nasdaq down right where they needed to. Breadth is shit, a scant 38% of stocks are up. My key contextual index, the Nasdaq transports is not yet confirming the weakness.
Nevertheless I went ahead and booked my QLD long (all hail Exodus) and partially segued the funds into NUGT, just like I said I would.
My book is cash heavy and without any short dated call risk. I am fully prepared for calamity but whether it strikes I am unsure.
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Raul – the timeless fox, Shirley Bassey, would like to serenade you… http://youtu.be/7qICIi0TZWA
OH MY, she is a peach. Let’s see if this NUGT can get moving.