Stocks took a dive this morning, but then recovered slowly in the afternoon.

As I said on Friday, VIX was showing signs of a short term correction.

But as Jesse Livermore once said, 'Never short a dull market."

And dull this market certainly is, to the point of sleepwalking.

Gold and silver took an early, purposeful hit judging by the volume and timing, but managed to take quite a bit of that back.

A similar story for Bitcoin.

The markets are dominated by a few big players, who have neutered and captured the regulators and politicians.

I am going to be trading very lightly until the end of the year, keeping a close eye of exogenous geo-political events and other economic developments.

I have now shifted my outlook to a market break sometime by the end of March, but with an eye for any moderately impactful 'trigger event' that will take this bloated bubble in valuations down.

Have a pleasant evening. 

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