Posted on Aug 27, 2015 by WHC Bassetti.
Or, perhaps, cat on a hot tin roof. Cat alive? Cat dead? Each day is a new day as a Bhuddist monk told us once at Tasajara.
Posted on Aug 24, 2015 by WHC Bassetti.
China, oil, Janet…real traders playing golf in the Hamptons… What does the reason matter? It matters not. Indu down 1100 at one point and finishing 588 down. Thank God! Maybe the incessant mewling and whining of the baby bears will shut up now.
Posted on Aug 23, 2015 by WHC Bassetti.
With the market vulnerable Thursday the contrarians changed the game. From selling strength and buying weakness they changed their tactics and went for the jugular, piling into shorts. They were quickly joined by the HFT, hedge funds and institutional day traders. These guys know an opportunity when they see one. The results are bloody to see. -500+ points in the Dow.
Posted on Aug 19, 2015 by WHC Bassetti.
Never ones to stick around when unwelcome we fled from our shorts in gold and silver. Honestly it makes you think you ought not to do anything until this sidewave is done. Our retreat from the metals is based on our insistence that trades go well from the beginning, or be left to the gents in Macau. This is all a very refined lesson in how important the state of the market is, and the present state is somewhat like an irritated porcupine.
Posted on Aug 16, 2015 by WHC Bassetti.
We shorted gold and XLE, And for the moment certainly wouldn’t be buying anything. We are on hold until the present phase plays itself out.