And there’s the market’s intraday fade t…

And there’s the market’s intraday fade that I was talking about in the post last night about what to expect from the market upon the news of Osama Bin Laden’s death.  The morning pop and subsequent reversal weren’t nearly as dramatic as they were the Monday after we caught Saddam Hussein, but the same sort of reversal action played itself out indeed.

Meanwhile, we need to put our Gold and Silver Short idea back on the front-burner, as silver had a 12% intraday flash crash, and that just might be the indicator that their big multi-year run to new highs is cracking.  I’ve mentioned before that gold would make a great hedge to our inflation longs like DBA but that we need to wait for the chart to crack.  Well, stay tuned.

I might add to a name or two today as I stick to our disciplined, steady buy-in approach, but we’re getting our positions built up to closer to half of where we eventually want them say sixty days from now, so I’m not in any kind of a rush.  Even as I’m convinced we’re headed into a new stock market bubble led by app and cloud stocks, I must maintain my market discipline.  And so must you.

Discipline trumps conviction!