090622spx090622srs090622fazToday’s action (we speculated last week there would be shooting this week, and sure enough….) is a signal to add to the short position.  In additon to our black boxes, crystal balls, ouija boards and general hallucinagens we have a secret collaborator who lives in our ancestral home — with the billy goats gruff — Switzerland.  When the gnomes speak we pay attention.  He has suggested two trades we like the look of:  SRS and FAZ.  We will take some for our personal portfolios.  The risk is obvious.  Just under the nearby lows — about 2% we’d say.

Leave a Reply