I have been shorting X (LONG PUT OPTIONS) for some time now. I see X going down around 2.5. But this is a short-term trade. March 7 puts.
There is going to be no recovery until we unload a TON of debt -- globally speaking. This means higher rates, more deflation, more default and bankruptcy and debt forgiveness. We screwed up. Now we get to pay for it.
GOLD HAS NOT BOTTOMED. OIL HAS NOT BOTTOMED. THE US DOLLAR HAS NOT TOPPED. THE RUBLE HAS MADE A TRADING BOTTOM AND IS RALLYING.
HERE'S THE TRADE OF THE DAY: SHORT US STEEL CORP.
Disclosure: I am/we are short X.