Aero,
It may not be time to go, but it's certainly time to get ready. By that I mean, all long positions should be taken with a trader's eye, not an investor's. Profits should be harvested in a timely fashion, as a sinking tide will strand all boats. I've been buying puts and will probably buy some more as the froth in the bathtub (along with the rhetoric on the Yahoo boards) gets incredibly high. I think the VIX gives up its signal after at least two bounces in this area; I don't know if it's going to be a VIX of 21, or 19, or 23, but it's important to caress the smooth curve of its delightful bottom--
--ahem--
excuuuuse me. I got a little carried away. In any event even after it bottoms for a few days there's generally (imhe) been another coupla days to do what a man's gotta do (run for cover). But it's a coming. I can feel it.
Gold is looking attractive again. On the Iraq front, I think all the good news (victory) is out, uncertainty, political struggle, evil forces and religious fervor can make the occupation painful. I still think it's worth the candle, but the clean part of the deal is done. Now we have to work extremely hard and fast to pass the ball to the Iraqis and let them go through the birthing pains of democracy. It's unclear whether that baby will be born healthy, unhealthy or stillborn.
Kb |
