Quick entry today.Obama administration is setting the market up for some pretty high expectations.
Next week they plan to announce a "menu" of changes to help the banks and the economy (click).
Once again, the market teeters on total fiscal disaster. The next couple of weeks will be interesting.
I will lighten my positions that are of highest risk for next week. I'll be selling 50% of my TBT tomorrow. The Treasury notes have moved substantially recently, and they could move much more.
Leading into the announcements, if FAS goes up a bit, say 15 buck range, I will lighten up the positions a little.
My fear is the expectations aren't met, and the market all-out collapse I thought would happen 2nd half of 2009 happens soon.
In any event GDX has always, been a ROCK. If I just played GDX the last 3 weeks, I'd be much better off financially. For those who are true gamblers, buying FAS between 10 and 8, may have a double or triple in the next few weeks, if the Obama plan give financials a big boost.
(image source)
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