I dare you short Bernanke’s Market

Just going to write a quick one before I head off to jam and drive home for some much needed vacation. In bullet notes, here is what was hilarious on the market today.

Disclaimer: Long $WNR $ABX $VLO

-SteelDynamics crushed earnings this morning, as you’ve probably already heard companies like $X are rallying huge off their numbers.

-The market used some Bernanke cocaine to gap up on the open with a large sell off to resistance followed by a huge bull rally, pushing ourselves up from the bullshit S&P US Economy downgrade.

-Gold popped to $1500 solidifying Gangsta Rappers as arguably the most astute financial investors stemming from the early 1990s – fuck the police? More like fuck diversification – it’s all about Precious Metals.

-Futures continued their fuckery of everything being absolutely decoupled from everything else. Yesterday (April 18th) we had the dollar trade up, gold up, silver up. Today: USD sinking hard, gold ends the day slightly up, and silver, well we all knew silver was going to continue going vertical.

-The fertilizers had rallies today off recent lows, strength seen in $AGU, $POT, $MOS.

-Being long refiners, its been interesting to watch them trade down on days where the Brent/WTI spread opens further and crack spreads go parabolic followed by a day where crack spreads are down 7%, the Brent/WTI spread narrows significantly, and refiners trade up.

-After hours, we have everyone from $INTC to $IBM to $YHOO beating earnings and revenue with strong guidance from some of the cornerstones of this market.

We are setting up for a great day tomorrow – as long as Japan, Nigeria, Libya, and anyone else who has decided to start protesting or build terrible nuclear facilities does not go full retard tonight.

To those who are short:

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: