Euphoria

Put/call ratios are showing high levels of euphoria. Were we not entering the seasonally strongest part of the year, I would probably be making a move to the short side right here. I am sitting on my hands trying not to act.

As an aside, healthcare continues to outperform. Healthcare is a defensive group so theoretically it should underperform in a strong tape.

6 comments:

Anonymous said...

Gold just broke the 1100 support.
Unbelievable...

Onlooker said...
This comment has been removed by the author.
Onlooker said...

No it's not, unless you're a rabid, closed minded, blinkered, gold bug. I can't wait to see it below 1000 and have Faber eat his words. Quite arrogant, that statement.

Anonymous said...

Nice call on amgn tsachy.

Anonymous said...

Tsachy, do you still maintain your call on Gold being oversold?

Tsachy Mishal said...

It is a fact that Gold is oversold. The only question is will it matter? I am not sure how well an oversold reading will work on a commodity as I don't trade them.