With all the trauma and awfulness foisted upon bears, there is one tried and true financial instrument which has never left our side: the Dow Utilities. Here, in the guise of XLU, I presented this symphony of sinewaves:
Looking closely, you can see it gave us a scare on Thursday, but it has resumed moving in the fashion in which God himself intended.
I have one and only one problem with this position: my puts expire in March, a mere 39 days from now, and I think this sucker (the $UTIL is below) is going to go a LOT lower for a LOT longer, so I might have to get some farther-out puts if a bounce ever provides me a decent entry point.
