The casual observer would not be surprised in the least should CPI data come in red hot, interest rates surge, the Fed steps in - stops QE and the markets plummet! While unlikely, the market is set up for a fall next week. I was looking last week for the test of the high, and it failed. The market extended this week but still did not take out the weekly closing high of four weeks ago.
Prior to manipulated markets some 12-13 years ago, such a three or four week test of a high or low was a "take it to the bank" market signal. But now, neither the government nor the Fed can allow markets to fall or rates to rise. Yet one day, it's inevitable. Will play it close to the vest using the June 11 420 put. Did so this week with the June 4th 420s. Look for a market spike up, just like last week's open, to place a position. That's my plan anyway.
Found myself lightening up on miscellaneous stocks and getting heavy into cash today. Instinctive rather than for any specific reasons. Added to long term SLV and GLD 2023 LEAP call positions on the dip this week. Pretty much just SLV, GLD, WPM, PAAS, GOLD, RGLD in the portfolio along with cash.
Prior to manipulated markets some 12-13 years ago, such a three or four week test of a high or low was a "take it to the bank" market signal. But now, neither the government nor the Fed can allow markets to fall or rates to rise. Yet one day, it's inevitable. Will play it close to the vest using the June 11 420 put. Did so this week with the June 4th 420s. Look for a market spike up, just like last week's open, to place a position. That's my plan anyway.
Found myself lightening up on miscellaneous stocks and getting heavy into cash today. Instinctive rather than for any specific reasons. Added to long term SLV and GLD 2023 LEAP call positions on the dip this week. Pretty much just SLV, GLD, WPM, PAAS, GOLD, RGLD in the portfolio along with cash.