Home builders rallying today as the equity boyz are enamored that the Fed and Treasury may be buying treasuries in an attempt to drive down yields. Ya gotta give these guys credit, they're like the monster in a B horror movie that just won't die. I am at a loss for words as to how the masses have not put a stop to this.
The problem is they are bankrupting the nation in the futile attempt to prop up something that cannot be propped up. The ignorance in this regard is colossal. You would expect these remedies from a juvenile who has no understanding of economics and free markets. The Fed and Treasury, the administration, the business community are like that petulant child you see at Toys R Us screaming and throwing a tantrum until he gets what he wants.
Unfortunately for us, mother nature does not work that way. We are going to sorely miss all this borrowed money the Fed and Treasury is throwing away into oblivion as we will most certainly need this for the future unemployed masses who will TRULY need it for necessities like heat and food. You think Dupont and Merck are cutting payrolls just for the heck of it?
I want to let my readers know that I will be on vacation commencing tomorrow and all next week. A long awaited ski trip to Vail Colorado, to enjoy the slopes with family and friends. I will be monitoring markets as I can but my primary concern will be enjoying the slopes. I will post weather condition updates at Vail along with anything of market interest as conditions warrant.
Vail's current temperature is 28-32 degrees Fahrenheit or -2 to 0 Celsius. To give you an idea, one week ago today Vail had a year to date snowfall of 18 inches. As of today they have a year to date snowfall of 65 inches. Needless to say I am very excited as the forecast calls for another 8-12 inches more over the next few days.
I was stopped out of my SKF position at $129 for a loss of about $19 pts and was also stopped out of my SRS position at $104 for a loss of about 9 pts. Not much else to say as you get stopped out almost to the lows of the move. Trading will test your mental capital much more than your physical capital, always remember that !
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Short 1 unit Apple ticker AAPL @ $110.90 stop @ $100.53
Short 1 unit Salesforce.com ticker CRM @ $56.05 stop @ $32.56