The market will go up, until it doesn't

So my call for the S&P to peter out around 875 was wrong. I am thinking now that the S&P will make a double-top at the 930 area. However, so long as the sheep are willing to go along with the green shoots idea, the S&P could trade to a little bit over 1000 or greater. Sheep in this case are dumb mutual fund managers who have to keep up with performance.

One must remain nimble and defensive and not get married to one idea. While we know the economy is screwed in the medium term, the sheep have not caught on yet and may not for months.

Covered all shorts when the S&P sliced through 900

Dumped FAZ at $5... SRS at $21.. Bad losses on both of these.

Still up decently for the year but my averaging into these suckers cost me pretty big.

Now the market is sure to crash! :)

Im taking some time away from the market. I feel like I may be "on tilt" right now.

Rotated out of PFE into WMT

Sold PFE for a 35% loss. Rotated into WMT and wrote some covered calls on it.

Covered AMZN short... Covered DIN short

Both of these have been DESTROYED since I went short.

I think they have more downside but I am sitting in May puts on these two. (only 2 days left)

Covered AMZN at $75.2

Covered DIN at $26.6

On the AMZN puts I made just over 300%.

On DIN I only made 60% (I paid WAY too much for those puts)

I would have rolled the profits forward but they want over 100 IV for the June strike and I am not paying that much.

I think the breakout on Gold is at hand

Volume in GLD is heavy, almost 14M with 3 hours to go, and it's trading up $4 with the dollar flat and the market down ~ 3%.

Maybe I'll jinx it again, but I think it's off to the races.

up to 78% Money Market...

in my long only 401k. Preparing for the pullback, trimming positions in energy and eliminating the position in tech I took at the March lows.

Out of GE

Out of GE @ 14.25. 92% profit in 9 weeks is nothing to sneeze at. I'll buy this one back lower, in the upper 9s - low 10s.