Bonjour again from the 16th district of Paris for one of my all-text missives.
It seems my absence from the land of the free and home of the bailout hasn't done any magic for the markets, as they have simply lurched higher into Never-Never-Was-a-Problem Land. My kind host here, Royale with Cheese, has been sending me pained text messages about the markets.
I actually viewed the jolt higher with a certain sense of relief, since the big ETFs all perfectly touched the resistance lines on Wednesday. I increased my short SPY position substantially near the close. The handful of longs I've got – such as CROX – have helped salve the pain to some degree.
I also view with some curiousity how the financials exploded higher Wednesday (such as FAS) whereas the real estate ETFs acted as if there were no rally at all. Strange.
Paris is a beautiful city. It is marvelously old. It is a delightful thing to stroll street after street and see hardly any franchise stores or familiar brand names. Oh, there's been a Subway here and there, but by and large what one sees actually seems to have some soul to it.
I'm going to be fully back in the Slope saddle on Monday morning. I'm going to have a statue made of Leisa in the Slope Pantheon for adopting my blog-child this week. Thank you, also, to both contributors and commenters alike for keeping things sailing this week. Au revoir for now!
