Friday, January 23, 2015

Market commentary

Well, the US markets are skyrocketing in foreign currencies, but still rangebound in USD. Time to be unhedged USD I guess, eh?

I'm a little spooked by today's weakness in the regional banks and strength of TLT. So while $VIX is downish, that's maybe because the big money is just certain of where it wants to be next, which means new positions are being taken, most of which will ultimately be wrong.

I could imagine gold being weak for a few days, what with OpEx next week and new currency crosses now interesting to the hedge funds: maybe a new round of people will go short gold over the next couple days?

So I guess I'll just step away from the computer and let that roast cook for a while.

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