Keep it short. Overall a long based for next a few months.
1. Long TBT. Expanding Feb balance sheet and alarming deficit, Long term bond lost its appealing. Very attractive risk reward.
2. Long GLD. Too much talk on this. Downside is it is a crowded trade.
3. Long UYG Out of Money call. Nationalization seems now a remote chance in coming months. Chance that some stocks can double/triple and some go zero.
4. Short FXY. Yen is stretched and Japan gov is defending it.
5. Long JNK. 13% yield. Surely it can go lower when defaults climb, but better value than equities.
