This is a syndicated repost published with the permission of Slope of Hope. To view original, click here. Opinions herein are not those of the Wall Street Examiner or Lee Adler. Reposting does not imply endorsement. The information presented is for educational or entertainment purposes and is not individual investment advice.
As people rush into equities — since they’re such a good value and all – – they are fleeing what has been the realm of safe havens for weeks on end, such as bonds:
…..as well as precious metals. Silver, for example, is sporting an island reversal pattern.
For myself, today sucks out loud, although I did short an absolute boatload of IWM and KBE at good prices near the peak of today’s price action. That is a little bit of salve to the wounds I endured covering dozens of other positions. I am still engaged in trying to make today a silk purse of what had started off as a filthy sow’s ear with blood all over it.
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