Structured Products

But somehow I can't believe
That anything should happen
I know where I belong
And nothing's gonna happen
Yeah, yeah
--Tal Bachman

I wonder whether structural newsflow isn't pushing market behavior to a head. On one side we have the stated intentions of the Fed to manufacture 'their' level of inflation, which has price of stocks and commodities heading higher. On the other side we have continued deterioration in Europe, which currently has not captured much collective market attention.

Should that worm turn, then a decent sized correction may be in the cards, as bi-polar markets once again shift gears away from inflation toward deflationary possibilities.

This has me wanting to slap on more short exposure to hedge precious metal longs. Bifurcated outcome may be in the making...

position in SPX, GLD, SLV