I am reminded this morning of Paul Simon's lyrics……
When something goes wrong
I'm the first to admit it
I'm the first to admit it
And the last one to knowWhen something goes right
Well its likely to lose me, mm
Its apt to confuse me
Its such an unusual sight
Oh, I cant, I cant get used to something so right
Something so right
Everything is going my way. I've got over 80 equity positions, most of them in oil and gold, and those are going fantastic. I had no index positions, but when the market briefly bounced higher this morning (actually into the green), I bought a huge block of Russell 2000 puts.
Thus, I am skeptical and in a defensive posture, since the stars rarely line up quite this well.
For the moment, I'm going to take my profits on my Russell puts. I am thrilled with how my commodity-oriented puts look, however, and intend to hold on to them for what I hope are huge forthcoming gains.
