I was glancing at charts Sunday morning – – – my form of worship service – – – and was awestruck at how primed everything seemed to be to fall. When I haven't looked at charts for 36 hours (which, for me, is a marathon) I permit myself to look at things afresh. Even though I was already 75% committed and totally short with 71 positions, all I could think was how much shorter I wanted to be.
When the market opened Sunday afternoon and bobbled around between -3 and -0.25, it certainly didn't seem like things were rocking and rolling yet, but in general I liked the feel of the market's action.
Imagine how pleased I was to glare at my iPad at 4 this morning and see the ES down 14 points and bonds zipping higher.
Of course, over the next 50 hours, two huge events loom – AAPL's earnings after the close Tuesday and the Satanic Gathering of the Evil Tribe (Bernanke & Yellen) Tues/Wed with a press conference. Since the market's laughable and utterly fictional "dual mandate" will be used as an excuse to do anything, only God knows what beard-face will promise on Wednesday.
In the meantime, I am heartened to see a little bit of Truth be allowed to escape into the light of day, which finds a happy home here on Slope.
