A Quiet Summer Evolving, Thanks Ben

Bernanke did the right thing yesterday.  All the RISK ON / RISK OFF frenzy of the past few months is quieting down.  As such we plan to neutralize our positions over the next week.  We are going to use the 1290 area on the S&P as support, the 1590 area on gold as resistance and quietly get out of everything.  From a trading standpoint it has been fun and profitable but now there is little reason to be bullish or bearish. 

I suppose a look at being long financials and short tech or consumer stocks may work only because these sectors are stretched a bit. And not to forget, stability will lead to stable interest rates,  so we will retain our short T-Bond position as our basic position.  And on commodities, looking back at our May 9th post on the price outlook for the remainder of 2012 we see that crude oil has reached the expected low of 82, enough said.

Time to work on the golf game and putt in some beach and Fair time until the news changes.

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