A Quiet Monday
Maybe its the upcoming New Hampshire Primary or maybe it is the ironic upbeat employment numbers but things are quiet this morning.
We remain long stocks and short gold for a number of reasons and one is that earnings announcements will probably be lackluster this month. That coupled with the fact that the macro chart on stocks still points higher is building a structure for a confrontation. Our short gold position should help if the wheels come off stocks.
And this morning Apple made a new all time high. I can think of a lot of stocks to buy, but I know for sure Apple would not be on the list.