Three Eye-Openers

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What a night for news! The three big items that leap out at me as I blearily start the day…….

  1. That the 28-year old co-pilot of the Germanwings flight was the one who did the deed.  Good. God. In a way, I’m relieved it wasn’t a terrorist attack or a mechanical failure, but that didn’t save any of the poor souls on board. I’ve always thought that dying in a plane crash would be an especially horrific and terrifying-beyond-belief way to die. For this man to subject nearly 200 people to this………..words fail me.
  2. The mega-surge, then just plain surge, in crude oil – I’ve got a smallish-mediumish size short in crude oil, but more importantly, I’ve got a smattering of energy shorts, so oil’s Yemen-based ascent is going to definitely tax some of my otherwise good profits this morning. The only silver lining for me is that, in CNBC style, I can say that oil is “well off the highs”, since it’s up less than half as much as it was earlier in the session.
  3. The liftoff in gold and silver: like I’ve said many times, I actually do want precious metals to perform spectacularly (for a variety of reasons), but at the moment, I’m short silver, gold, and miners – – so, again, that’s going to take a bite out of what would otherwise be what’s looking like a pretty good day on the short side.

Well, that’s it. Time to get this party started.