Monday, January 7, 2013

Equities Long in the Tooth

Equities look pretty long in the tooth.

BOIL was posted last week as a long, and has performed well.    It is either broken out of pattern to the upside, OR at resistance still in pattern depending on how you draw your lines.    Tough place to enter long at this time.

VIX is really low, as is VXX.   I will pick up some calls for February with an expected 2 week hold time.

PM's have taken a beating, we will see if they got some juice if money moves out of equities and into hard assets.  

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Insightful and Useful Comment!