Bookkeeping: Long Direxion Large Cap Bull 3x (BGU)

While I'm normally a TNA man, the current 'decoupling' action we are seeing should favor large(r), international type companies over those facing the U.S. consumer.*  Again, there are exceptions, especially those smaller companies which sell into larger corporates.  It's always a crap shoot knowing which of these ETFs will do better on a day to day basis, but instead of TNA I am going to go long some BGU as some sort of spike around 2:45 PM sent the S&P in a straight line from 1112 to 1116, breaking through resistance like swiss cheese.  I assume this was the Fed agreeing to Goldman's terms on what will happen next Tuesday**

Whatever the case, that spike turned the technical condition from potentially troubling to "labor data? what labor data?".  Over S&P 1115 I don't want to be too bearish, so I believe I will get jiggy with it until Tuesday 2:10 PM or so.  We are slaves to the 'technical action' as whomever did that spike an hour ago, surely knows.

Fast Money traders from across the land shall talk tonight about the "impressive action" in spite of the economic news, and swig big jugs of Kool Aid (it's an iPhone app) as they point to Monday morning premarket markups in our future.  I shall hope to partake in my own small way.

I'll add a 3.25% allocation of BGU and sing songs of S&P 1128.

* unless such consumer works in the public sector, which is about to be handed another $26 billion of taxpayer money to preserve their rightful place at the top of the socioeconomic food chain.
**pure speculation and scuttlebutt

Long BGU in fund; no personal position


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