The short term trends are very over-extended, with stocks down and Treasuries higher. Gold has unjoyed a spectacular rally. The financial sector has been crushed.
I am looking for some thing that will reverse this process, and perhaps with some gusto. But that is what might happen ordinarily. How ordinary is this?
So for now the trend is the trend, and it would not be wise to get in front of it. But I have trimmed some profits, and opened the way for new opportunities if they come.
