Two things saved my butt on Tuesday: my PAA short and my precious-metals positions. I’m long DUST and JDST, as well as my short on GLD.
In spite of the record-highs-everywhere in equities, I’d like to quietly point out that on the small caps, we did in fact break a crucially important trendline and are rallying beautifully to its underside.
IWM
A closer look at IWM:
I have thus shorted IWM in size with a stop at 142.39.