Back on the last trading day of 2011, I wrote the following. While technically a bit past the mid-point of the year, I wanted to take inventory of how I've done so far.
1) Passing grade. The sun has shown up each morning as expected.
2) Europe's central planners are not doing a great job of managing this situation and giving the market what it wants, which is more liquidity. But, at some point, I expect them to relent. In the most literal sense, it is coming to a head.
3) The Yen has held up pretty well, but my view is that the crack is starting to form, hence the new position that I took last week.
4) The gold market is not for the faint of heart. I don't think the bull market is over, but recent price action has made the call for $2,000 look very questionable.
5) While it might end being just barely, it appears the market will end the year higher than it started.
6) Treasuries have done well, like I thought. In fact, even better than I thought.
7) 2013 appears to be right on schedule.
