I recently went a long GLD and short in several other positions. I most likely will be getting rid of them shortly after the open unless things change in the next 45 min. In addition we have a bit of a risk factor with the Fed minutes on tap Wednesday. They have been pretty silent lately most likely because they have repeatedly lost they’re credibility by thinking they are rock stars that need to get in front of the press to play bigshot. Time after time within a week after they espouse their off the wall comments events dispute their positions. So no reason to think this will be any different.
One thing that you need to keep in mind is the U.S. cannot withstand short-term rates raising. They have no room for flexibility on this. So despite all the BS unless they are on suicide watch for the U.S. rates will stay low. The debt is skyrocketing out of control now and higher rates will make the day of reckoning come sooner. And of course we all know that the push the can down the road and blame others politicians will attempt to postpone the inevitable as long as they can or at least as long as they are in office.
But there will come a time that this crazy strategy will reach an end. And its going to be uglier than the housing debt implosion of just a few years ago. A perfect storm may be on the horizon with the debt, social security and our enemies getting stronger. I hope not but the probabilities are getting much higher. And that’s what I deal with probabilities:)
Enough gloom and doom for this morning. But the lesson from all of this is do not get stubborn in these markets. When the time comes be ready to take your loss and watch on the sidelines while other go bust.
Got to run as I am leaving for Ca on a personal trip for a few days. I will try to post but might not be able to except for handicapping plays.
Speaking of which let me get the handicapping out-of-the-way before I have to head off to the airport.
Monday we had two 1/2 unit plays and split 1-1. Colorado +147 lost 2-3 and Oakland +114 won 5-4.
We also had 5 big move games:
Closing line on these:
Two of the games had very nice moves. Two others slightly against us. one a bit more against us.
These big move games are my predictions of at least a .10 move.
Overall they have been very helpful to me in my handicapping and if you’re using them as a filter should be helpful also in yours.
Today I sent out 4 big move games to subscribers.
Finally with the NFL almost here I have a special now that you should take a look at.The details are on the 2nd column of the site. But its $196 that covers all sports from the date you sign up until the last football game is played If you have any doubts about my football handicapping record it’s all there for you to take a look at on the front page along with my documented results from last year from thesportsmonitor.com. In addition you can take a look at how I have done in the Hilton contest over the years by looking at the record of rickja.com.
Got to run
Good Luck Today
RickJ’s Handicapping Picks