22Jan10:42 amEST

Press the Restart Button After This Level of Super Mario

cool-controller-mug-game-over-coffee "Super" Mario Draghi of the ECB announced his own QE numbers this morning, as markets spiked up at the open only to abruptly fade into red. As I write this now. dip-buyers are giving it a go at recapturing the opening highs, namely 2,045 on the S&P 500 Index. I am seeing wild price swings across all markets, however, including crude oil reversing back to red, precious metals hanging tough in the green, and Treasuries flipping red. The strength in the U.S. Dollar continues to amaze which, once again, makes the resilience in metals all the more impressive. Also note how there is a huge distinction to draw between base and precious metals--The action most certainly has been in gold, rather than the likes of copper, which has been lousy to say the least. As for my holdings, my only bet here is the TMV long (triple-short Treasuries ETF). I do not see many compelling setups in equities, and the morning volatility is not helping the cause. I am going to wait a bit longer this morning to see how the dust settles before leaning towards a directional bias in the short-term.

Stock Market Recap 01/21/15 ... Attack and Retreat; Attack a...

 
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