Monday, September 20, 2010

Top It Off

I was halfway home, I was half insane
And every shop window I looked in just looked the same
--Style Council

Major indexes appear to be pushing thru upside resistance. SPX, for example, is trying to make its way thru a triple top.


If they do in fact move higher from here, it'll happen without me. Have kicked out virtually all remaining stock exposure into today's lift.

My proxy for risk here is precious metal. Gold and silver are marking all time highs again and continue to act very well. In my view, the metals have much more going for them here than do stocks...

position in GLD, SLV

1 comment:

dgeorge12358 said...

But each time I seemed to be climbing into a roller coaster and finding myself coming through the downhill run with that sort of dazed feeling that we all know.
~Enzo Ferrari