I've never been a believer in fear trades even though I like to short. I prefer to be short when there is little fear and the market goes down on no news. If you are buying oil or selling stocks because of Middle Eastern revolutions, you better have a quick trigger finger. I am a bull on gold and silver, but these moves can't last long because they are based on fear. When the precious metals go up without geopolitical fears, but with fears of an imploding dollar, that is the real move. I am not even that positive on commodities because the funds are all in. But I would much rather own gold or silver than stocks for the next 6 months.
I have lightened up on my ES short this President's Day, and will likely cover the rest on any intraday weakness on Tuesday. I don't think this dip will last long either.
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1 comment:
I can't help but think that this unrest is bullish long term.
These dictators are total crooks and needed to get ousted
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