24 Jan 2012

Still overbought.  Fed minutes are big tomorrow.

VIX has some room to the downside still.  It bumped against its upper channel line today.

It is amazing that we are getting back to levels on the summation index that were never seen before 2009.  The TSV is also against the upper resistance.  Simply incredible.  I do not see how this can end well.

"Paper money eventually returns to its intrinsic value - zero."
 Voltaire, 1729