Friday, May 31, 2013

Market Update

I'm sure a lot of you are climbing the walls wanting to know what's going on.

If I had charts that were screaming I'd post them.

This is one of the hardest calls I've had to make in this amount of time, however the F_E_D's POMO schedule didn't change and that was the main event risk, now it will be the June meeting, I kind of figured that would be the case, they aren't going to change 4 years of policy with a POMO schedule.

I also see numerous assets like the averages looking better in the short end, the trouble is in the middle and long end, I'd short these every time, but this is a different, volatile market.

I see VXX/UVXY not as bullish as they should be and HYG picking up strength, lastly I see bellwether stocks looking better than they should, GOOG looks like an outright long swing trade here so I'm guessing the "W" holds.

I'll add positions as they warrant and not on anything other than evidence that they are warranted.

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