This is just a comment cleaner, as I'm terribly busy and wanted to give you a brief update.
Being hedged in this market was a mistake. I dumped all my longs this morning. They were serving no other purpose than to create losses. My biggest macro regret is that I didn't simply put my entire portfolio into GDX puts at the start of the year and went to sit on a beach for the rest of 2012 (OK, I don't really like beaches that much; perhaps sitting in a library with books would be my preferred occuptation).
All the same, I am once again totally short and am currently 81.16% committed (and that will probably push higher). FXE is far and away my largest short – indeed, it's my only big one, and it's a doozy.
As I was ripping through charts this morning with lightning speed, I kept uttering, again and again, "Holy…" followed by one of a variety of expletives. I couldn't believe how many stocks were getting completely monkey-hammered, including some favorites of mine. I'll do a post later today on one in particular. My mouth was simply agape at how many equities were getting destroyed.
I think we're finally on the cusp of something much bigger. And while the public is distracted by article after article after article after article about {expletive deleted} Facebook and its {expletive deleted} IPO and Mark Zuckerberg wearing his hoodie, which makes him look like a complete {anatomatically-specific noun, preceded by another expletive}, stocks seem to be undergoing full-on rot.
