Welcome new reader!

Financial news I consider important, with my opinion, which is worth as much as you paid for it.
Please click HERE to read a synopsis of my view of the financial situation.

Tuesday, May 20, 2014

Fools Folly

Unless tomorrow AM has a ridiculous open lower, I am covering all my shorts in the market.
Since my last post, the market really hasn't exhibited weakness.

I can't imagine a scenario where I try to short again, its plain foolish based on all aspects of market action.  No matter what happens, the market rebounds.

If this trend continues, then back to gold miners is the best play.  As an example. this morning someone DUMPED 500 Million dollars in gold assets in a flash, gold rebounded nicely today.

So while the market did go down today, I am unimpressed by the action.
I'll hit out of options, may keep some of SZK.  Oh well, after watching for years for a break down, its a fools folly to try to predict when this ends.

As I said in 2010, the end maybe a break up not down, and who wants to be short into that!

No comments:

Post a Comment