I've been busy with other things, and not spending so much time on the markets. There is a mostly upside bias. Some would say it is due to all the liquidity being pumped in by the Fed.
The bears have been hit hard lately. Later in the year, the tax law sunsets will loom larger. Taxes on dividends and capital gains are going back to the old higher rates. I don't know how much selling or reallocating this is going to cause, but it could add fuel to any equity declines in the fall.
Long GLD, SPY, TLT, TM
I have options on all of these expiring this Friday and all are safe, barring a meteor strike kind of event. I have already sold March options on GLD, SPY, TLT.
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