If I read the situation correctly, the markets are wearing on many peoples' nerves. You know what? Mine included. This morning's pre-market news compelled me to send out a mailer showing parameters at which NFTRH would be forced to abandon the short term bearish stance. Getting mentally whipsawed is draining, but to navigate the markets you need stamina and maybe a certain kind of mental maladjustment. :-)
As it is, the pig is now getting whacked down from logical resistance once again. What will it do tomorrow, catch the shorts off side again? Damned if I know. It is summer and it is time for balance and of course patience. So I continue to hold short disfavored items against favored longs and keep plenty of cash. Opportunity will come people, now enjoy your summer.
Edit (3:22) Picture of the monetary wizard added... Yesterday I had perhaps too much time on my hands to watch this mess. Today, not much at all. So I just find out now that we go kerplunk on Bernanke and his "outlook remains unusually uncertain" words. One dumb blogger's interpretation? He's talking down the recent bullish stir based on corporate financial performance data that are already in the books, to make sure that the next round of QE goes off without a hitch. Remember, the wizard loses a lot of his power if interest rates rise too far too fast. Ben is not a stupid man, and it seems that deflation is his friend, his lever.
Dunno, the entire thing reads like a muddled attempt to speak out of both sides; things are on track and okay, inflation is not an issue and we look forward to slow, steady job growth. Then why the *$%@ not leave it alone to proceed organically? What's wrong Mr. B?
