Sad Bull Faces

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Well, the bulls had their main ally – Ben "King of the Juice" Bernanke pretty much flat-out announcing QE3 was on its way to Congress. Assets immediately zoomed higher – – gold shot up, silver shot up huge, the miners ascended, ES, NQ, you name it – – and then it all went limp.

It may be somewhat telling that in spite of Shalom's hell-bent destruction of the dollar, the giant TLT bond fund actually made a new high for the year today!

For the sake of balance, I acquired some long positions today. Most of my positions remain short, however, and I think it's fascinating that the IWM created two shooting stars in a row.

0713-CANDLE