Utilities and Euphoria

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I imagine some of you notice the VIX has been getting squished down to some of the lowest levels in history. It was only a week or so ago that the VIX was approaching 17; today it had a 11-handle as complacency and delight with equities continued to metastasize. 

1226-vix

With just three trading days left in this wretched (for the bears) year, the no-volume melt-up simply continues uninterrupted. I actually didn’t have a bad day today, as I continue to beef up my holdings with carefully-chosen positions. One of my favorites right now is XLU, which I am short, and which I augmented today. Although the chart belown looks like I’m trying to make a cute rendition of a cat in a Japanese cartoon, what I am trying to show is the double top and the risk the supporting trendline has of getting broken.

1226-util

Traffic has been surprisingly steady here on Slope this week. Things were even bustling on Christmas Day! I’m going to continue to be around during the so-called holidays, although I will be traveling from January 1 through 5 and blogging less frequently during my journeys.

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