The Long Roll-IN
This is another day when I have nothing new to add to the assessment of economic and market conditions. A combination of a dysfunctional congress and European austerity is setting up the markets for a precipitous decline. Market volume is light on the extended rally and the bulls point out correctly that markets rarely end with a whimper. What if this is a rare time?
We remain 80 percent short gold and 40 percent short stocks which totals a 1.2 leverage ratio on the short side.