Down in Jamaica they got lots of pretty women, steal your money and the trading hours are different than those to which I am accustomed. Even though we are east of Miami, they use the Central Time zone here, which means 8:30 to 3:00 trading hours (as opposed to the 6:30 to 1:00 that I work with in the Bay Area). It's nice to "sleep in" until 7:30 and not be late for the market.
My portfolio is pretty much tilted for these anticipated moves:
- Bullish on precious metals (GDX, GLD, SLV)
- Bearish on oil (short OIH, long DUG)
- Bearish, short-term, on equities in general
- Bullish, medium-term, on select equities on which I'll just keep tightening stops
- Bearish, long-term, on equities (I won't make positions until later this year)
As of an hour before the open, things seem to be setting up for a good day based on the above. I think the EUR/USD is poised for some near-term strength as well, although I'm not an FX trader. I used to think that a strong EUR/USD meant strong energies, but it doesn't seem to be that way at the moment.
I'm going to fight the urge to apologize for my far-less-than-normal posts over the next 48 hours. I'll just say again that things should return to "normal" Wednesday morning. Good luck to you; this is going to be one heck of a week.
