Hermes: 'Alas?' This word of regret the mighty Zeus does not understand.
Prometheus: Time in its aging course teaches all.
Aeschylus, Prometheus Bound
I liked the silver action a bit today, and added back some protective stock index hedges to cover a dalliance into the beaten down silver and gold miners, while adding to the existing bullion positions as well.
This market is as phony as a politician's promise and a banker's smile. The best sector play for most people is 'out.' The further away from Wall Street your money is the better.
The children come home from school for the holidays today, so no more expansive updates tonite. Too busy preparing the fatted calf and all that.
Tomorrow is the Zynga IPO and the Street wants to feed it out to the market which these days is mostly pros and schmoes (daytraders) who flip shares to each other like an egg-tossing contest.
The MF Global story continues to grow more noisome each day.
Watch the action into the weekend. I remain highly defensive in mostly long term holdings, cash, and hedged trading positions.
