Tuesday, June 28, 2011
A Good Place To Ride Out A Storm
Yesterday's leg of the trip was what I call run and gun: cover as much ground as possible with very few stops. There was a wide band of thunderstorm and tornado warnings engulfing the entire state of Tennessee. Since the storms usually show up at night when the air cools, I wanted to get to the lee side of the Appalachian foothills for some overnight protection. I managed to get as far as Bristol, VA, which worked out just fine.
The S&P is still riding out the June storm, tucked into the lee of the 1258-1298 range. Perhaps we'll test or exceed the upper end of the range with some quarter-end, pre-July 4th window dressing. I'm still riding out my stormy gold trade.