Stocks, bonds, gold all had a relatively wide intraday range on Monday. Hulbert notes that stock newsletters bit hard on the recent sell off, going from near record bullish sentiment to bearish levels in a short period of time. This is good news for stock market bulls because it is difficult to have a big decline if everyone is anticipating a big decline.
May option expiration (this Friday) can't come soon enough, after the wild ride the markets have been on, with a corresponding increase in implied volatility.
Long BRKB, GLD, SPY, TLT
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