I haven't really gone through all my positions to get a sense, from a "bottom-up" perspective, of the market; I will say, however, that given the recent strength in energies and commodities, a new trading year starting this Friday, and the failure of a "terminal end" to 2008 transforming, I am tilting more heavily bullish. Simply stated, if last week's lows hold, the likelihood of a robust move higher in January strikes me as pretty solid.
This graph is, to me, particularly alluring.
My "early" positions on this bullish notion are focused in energy; I fear that, if I'm right, I may have to exit my many gold shorts earlier than I planned.
I'll see you Monday morning, in what will be another relatively quiet week; we don't really get back to normal markets until Monday, January 5th.
