OK, a quick update... the strategy here is short the S&P, long oil, short treasuries on the long end.
Got some oil... full position each in SU and BHI. The former has done fine, the latter is sitting still.
I'd sold gold on that spike above 1000. Bought it back last week as it came down to the bottom of the channel. You could argue it's making a bull flag here. I'd be a buyer close to 850, playing for 10% or so.
Pull out the chart on XLU to any duration you like. Last year, I caught that H&S on the short side, covered it late last year. Now, it's back at resistance, having barely participated in this rally. Bigger resistance at 30.
Nobody's going to bail out ute debt.