Stocks appear to be coiling for a move.
I am tending to take the short side here, in a paired trade with long gold without leverage. No miners. I adjust the mix intraday to try and capture some of the games as the wiseguys do a wash and rinse with the index.
I do not wish to be caught long until some semblance of order comes to the European debt situation. And not only is it not getting better, but the US seems to be tottering to a reckoning of its own.
