Fear trumps greed, but volatility is mean-reverting The cash S&P hit 15-month lows on Monday, down ~21% from February's all-time highs. It then rallied ~13%…

Slowly at first, and then suddenly The cash S&P 500 index closed Friday ~9% below last Friday's close, with virtually all of those losses coming…

The S&P: lowest weekly close in seven months The S&P tumbled ~660 points (~11%) from its all-time highs in mid-February to the March 13 lows…

Gold hit new highs again this week, up ~$1,000 from year-ago levels Front-month COMEX gold futures rallied to ~$3,065 this week, up over $400 (~15%)…

Current positioning: I'm long S&P futures as of Friday morning. See My short-term trading section below for more detail. The S&P closed Red for four…

Current positioning: On Friday, March 7, I bought the S&P and shorted the Yen, Gold and T-Note calls. I held those positions into the weekend.…

Current positioning: My short-term trading account began this week long TNotes and Yen, short the S&P. I covered the Notes and S&P for good gains…

Current positioning: My short-term trading account is short the S&P, long T-Notes, and long Yen. S&P futures traded at record highs on Wednesday but fell…