Looks like our Sunday Macro Madness was right on the money: http://hedgephone.com/?p=984

Expect stocks to recover a bit from the lows as the POMO money dump takes the overvalued GMCR’s and TZOO’s of the world a little higher, which will put the speculation back in the speculators via the POMO desk and Brian Sack… The market is getting a full Zap of POMO juice for the rest of the week, so investors may want to take some profits on incremental short positions in equities and buy some FCX, VALE, and SGOL… These are just three of my favorite names here, but I expect all of them to significantly outperform the averages over time (and apparently so does Soros on the FCX anyways, as he bought 300K shares after dumping his GLD at a huge profit)…

I will be looking to cover some things this afternoon, but will remain fully hedged in the stock market and long some metals because valuations for equities are ripe while QE is driving asset prices higher regardless of the expensive valuations for stocks — QE is a tough call and not what I would have done, but then again I’m no central banker!

In the end, every red blooded American like me hopes for Blue Skies ahead, but in my heart of hearts I can’t help but feel skeptical of the stock market which is up 110% from the lows…

Best wishes for successful investing HP’s!