The market is open a few more hours, but I'm heading home. My stops
are up to date, and I don't need to watch this stuff. I'll do a post
late tonight. My take on the big jump in equities today is that it's
still within the confines of the Fibonacci ranges we've been trapped
within most of the month.

I
feel comfortable with my oil/ag/gold short positions, which are helping
shore up my portfolio in light of the big pop in equities.

As I said, I'll be offline for a while, but I'll do a post late tonight. Have a good weekend!

I think last night's baton debacle sums up my view of how the respective sides are handling this market. First, the bulls……..

And then, the bears………

The bears Jamaica the bulls wanna go home!

Those of you following the posts and comments yesterday were clear on the theme:

• The EUR/USD rise was, I felt, nearly completion, and the dollar's strength would resume soon
• …..therefore, energies would start to weaken……….
• …..and gold would weaken
• ……and, based on retracement levels, I was "too nervous" to hold equity puts

 I wake up (late….) this morning to dollar up, gold down, and oil down. Good! I did, late yesterday, get a medium-size position (5 contracts) on the S&P 500 which is obviously getting clobbered this morning, but given the nature of the retracements I am observing (perfectly up to the trendline), I'm not disheartened.