Stocks & Commodities Fall as German Parliamentary Vote Takes Front Stage

These late day fades are killing the bulls. You wonder how much longer they can take it before they just throw in the towel. We were dancing between gains and losses all day, opening up 100 points only to give it all back and then some by 3PM. Then, as usual, the fast selling started and took us another 100 points lower in the last 15 minutes of trading. I'll reiterate my view that you shouldn't be buying anything in this market except Apple (AAPL) and Alexion Pharma (ALXN). Overnight or early tomorrow morning there is a vote in the German Parliament to decide on Greece's bailout package. If it fails, you can bet we'll be taken down hard. Remember, when TARP was first introduced to Congress it was shot down, then the market plummeted and forced Congress' hand. TARP was finally passed, eventually saving us from a total collapse. You have to think, over in Europe they have a bunch of lefties in office who are anti-capitalist to begin with. You think they want to bailout the "fat-cat" bourgeoisie bankers that got them into this mess in the first place? Talk about moral hazard. They hate the bankers over there more than we do. Then, even it passes, it has to be the right plan. How did we react when the Fed didn't give us the stimulus we wanted last week? Down 700 in the blink of an eye. Gold and silver resumed their drop Wednesday but expect and bounce back up to the $1700 level if the vote fails. I'll be adding to my Proshares Ultrashort Silver ETF (ZLV) and Proshares Ultrashort Gold ETF (GLL) positions if we do bounce on a failed German vote, but if it passes, look out below.

This is not a recommendation to buy or sell any securities. DAK was long AAPL, GLL, ZLV, and ALXN at time of publication but positions can change at anytime.