Wednesday, February 15, 2012


That chart looks daunting and with all the headline tail risk (obviously everything in Europe, US breaching the debt ceiling before the election, and the Middle East) it's downright frightening. I'm not making a prediction but I wouldn't be surprised if when this market turns we don't revisit 666 on the SnP or lower. Again, it's not a prediction, but it wouldn't surprise me in the least.

This is such an incredible position from a historical perspective because never before has the world explored the levels of debt we are currently at. At least the Fed keeps me laughing, every time the DOW is -70 out comes some Fed statement saying they haven't ruled out further asset purchases.

I haven't made any changes to my positions so if you need me to re-post them let me know.

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