Blast Off

And all this science I don't understand
It's just my job five days a week
A rocket man, a rocket man
--Elton John

The moonshot moves in the financials today demonstrate the volatility possible during extremes. Led by Wells Fargo's (WFC) positive earnings report, the BKX screamed 17% higher (has to be close to a single day record). WFC was up 33% on the day! Other big name movers included Fannie Mae (FNM) +30%, Bank of America (BAC) +22%, and JP Morgan (JPM) +16%.

Of course, even with today's screamer the above names are still down big on the year.

Experienced a little premature evacuation by kicking out my bank exposure early in the day before the group really got going. Perhaps I should adopt Prof Nelson's 10:30 rule.

Regardless, still felt good to make some sales. Should this rally continue, am hoping to use price to my advantage for unloading a couple stale trading positions (e.g., GE) and pruning risk in some longer term holdings.

Would like to better match my risk profile to my view of the world which, increasingly, looks deflationary. Viewed thru a deflationary lens, cash is king.

position in GE