Retro 2011…………..with update
Going into a new year you never know which way the crowds will push, will they start bearish or will they start bullish.
It should be obvious to all by now that the 2012 crowd is pushing for a repeat of the first half of 2011 and should be able to keep it up for another week or so. That is why we are long stocks and short gold as we watch this first step play out. At some point this month we plan to roll out of the long stock position and be short gold and probably get short commodities for the next leg down.
All I can say about the New Hampshire Primary is that it is obvious that the top tier Republicans, people like Jeb Bush, are not playing this round because the 2012 election is Obama’s to lose. So we are left with Romney, Paul, Gingrich, Santorum, and Huntsman, with Huntsman being the only solid person in the bunch.
UPDATE at 11:50 AM CST We just dumped half our long stock positions. The S&P 500 was at 1291.