What have we here?

The fiscal cliff has been pushed into the beginning of next year. We have a whole lot of delayed statistical news to come in the next week or so. This will affect the thinking of the FOMC will alter their take on the future of QE. So more uncertainty. But a part of the market powers on. While the DOW is stalled on its run up, the S&P has taken heart from the fact that the US will not default on its payments (yet) and has risen to a new all time high.

A contrast that makes it hard to draw any conclusions.

Obviously I'm kicking myself for not being in the market. But safety, like everything else has its price. There is a good economic phrase which describes the price I am paying. It is "opportunity cost". I've missed my opportunity to profit, by sitting on the sidelines. Frustrating but there you go.

I have done a couple of things. When the fiscal cliff loomed I bought some more shorts on US treasury bonds. This time shorter term ones code PST. As the cliff moved away, they fell a bit.

GVC (a UK share) carries a 12% yield and a PE of 5.5, following a pull back on its price since it went ex dividend. I already had a hefty chunk of these shares and am sitting on a decent profit. I took the price pull back as an opportunity to pick up a few more. Remember I am not here to recommend anything. Just to report on what I'm doing.