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Well, summer is upon us, and so is my family time in Tahoe. Don't worry, I'll still be "hitting the Slope", but less frequently (long-time readers are rolling their eyes right now, but this time, I mean it. Honest. Now stop that).
From now until July 4th, you can expect:
I'll do a post later today, bit I just wanted to give everyone the heads-up.
The rise in the S&P got stopped at about 918. The overhead supply from June 15 and 16 acted as a nice barrier and establishes a clean stop price. I'm currently short /ES.
A reader send me this interesting article about how two men were detained at the Swiss/Italian border with $134 billion (that's billion, with a "B") in bonds. Karl Denninger adds commentary to this as well.
It reminds me on this sketch…..
Sorry to keep harping on this – – particularly to those who belong to the First Church of Precious Metals, but I'm just ga-ga over shorting GLD right here. It's (a) a clean trend break; (b) a terrific failed pattern; (c) has a clean-as-a-whistle stop; (d) a great risk/reward ratio.
I'm sort of "off" lottery plays these days, but here are three interesting patterns; the stops I'd personally set would be:
SYMX .99
TOMO 2.34
ZQK 1.89
