I am going home long AGQ and FAZ for the weekend

FAZ

2/17/2012

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Bought back into FAZ
 

OUT

2/16/2012

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I took profits in FAZ China's $ 1.7 Trillion debt roll over was just the start.  This is all smoke a mirrors but not a time for bravery.
http://www.zerohedge.com/news/while-you-were-sleeping-central-banks-flooded-world-liquidity
 
Most of the pundits I follow are bearish or think the market is being run up by the FED.  On the other hand it would seem that investors are very bullish with some charts showing that they are at a record extreem in bullish sentiment - usually a sign the market will fall.  It is hard to fight the tape when it looks as if the FED is bidding things up.  I am holding FAZ with a close stop and my
 
 
It looks as if the President's re-election team bid the market up in the last hour or so.  Despite this FAZ had a good day.  This is what it looks as if it will come down to -  absent any really really really bad news -  the Plunge Protection Team will continue to bid stocks up until after the elections.  I still have my FAZ.  They need to try to break the gold market and it may take a break in stocks to do this.
 
MF Global is the canary.  I do not think people realize what a game changer this is as it confirms there is no rule of law any longer.  http://us1.institutionalriskanalytics.com/pub/IRAMain.asp