‘My Dear Love,
I am always fascinated by your beauty, your
wildness and the pleasures you offer. We had great times together and we
partied hard several times. The parties
were great but the hangover and after effects were terrible. I am still nursing
the injuries sustained from last year’s after party crashing.
Your manager, Bernanke is trying his best to
continue the party by offering free alcohol and free Viagra (low interest rates
and more stimulus), and keeping every ones attention away from the smoke,
coming from the European block down the road. The music is getting louder and
party is getting is wilder. All the alarms, in form of overbought indicators
are going off, warning me to exit. I fully understand, the party can go on for
extended period, but I enjoyed the ride, had enough fun, and don’t want to
crash after the party.
Please understand that this is
only a temporary separation and I can resist your temptation only for so long.
I will find my way back as soon as Relative Strength Index drops below 30. Wish
you all the best and don’t worry about the house because I am buying insurance
with puts.
Your lover in separation …RK’
Oooh! I am glad; I got that off my chestJ. I feel the markets
are too hot to stay invested as a trader in short term. I have liquidated most
of my positions, to move 85% of portfolio into cash. I plan to buy put spreads
or put ratio spreads if the markets continue to stay overbought in near future.
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