It always seems to be this way………..whenever the market day starts off totally boring and hum-drum is when I have a great day, and whenever things seem awesome and exciting (like early last week), the day sucks out loud.
So, as I was bitching this morning about how boring and dull things were, I left all my screens and went off to make my beloved family some banana nut muffins. I completely ignored the market, focusing instead of making sure the batter was well-aerated, since yesterday morning’s muffins were so dense they could have been used for personal defense.
However, only an hour into the trading day, things are going great. Crude is reversing, and retail stocks are pooing all over themselves, particularly Dillard’s, which I’ve been suggesting to short quite enthusiastically lately:
The only weak spot for me is my JDST long, which is down about 4.5% today. I’m concerned that weak equities will strengthen gold, but, meh, I guess I’d rather have the market sink than this one particular position prosper.