Tuesday, February 17, 2009

It's Sir to You


What to say about Allen Stanford, except to give him the benefit of the doubt as he has not confessed, (ala Bernie Madoff) so he does deserve the expectation of innocence until proven guilty. But more importantly please excuse the faux pas on my part as he should be more properly referred to as Sir Allen Stanford, as he was knighted by the British Commonwealth and carries the title.

Come to think of it, wasn't someone else who was knighted in a bit of a pickle before? Oh yeah ! I remember... Conrad Black. Good thing they were knighted lest any of the minions ever forget not only his station in life but how upstanding and honorable they are. Words simply don't properly describe the irony of it all but whatever you do at least address him properly as Sir !

Memo to the boobs and boobs at the pom pom network (CNBC) and their incessant, oft repeated question to guests as to how to restore confidence? I know that you cannot acknowledge China and their tactics but might I humbly suggest the guillotine or simple hanging if the firing squad unsettles you to much or ammunition prices make it uneconmical.

Whatever you decide over there at CNBC just keep on recycling the same ol' same ol' guests with the same ol' same ol' lines of thinking. You know the crew, Bill Gross, Mohommed El-Erian, Paul McCulley, Bob Doll, Vince Farrell, et al. More importantly, do not dare ask Mr. El- Erian any questions pertaining to the mushroom cloud above the Harvard endowment lest you impair your advertising revenue stream via Pimco, the authority on bonds.

Don't get me wrong the 3 boyz of Pimco are extraordinarily bright, BUT... they are not immune from criticism, they are not immune from having their ideas challenged, they are not immune from talking their book, and above all they are not immune from being wrong. The markets have a nasty habit of doing that to people, making them wrong to the point of embarrassment. The trick is the ability to STOP BEING WRONG before your reputation and account are left in tatters.

Memo to Dylan Ratigan: I had a dream the other night that you heeded my advice and for one evening only let the regulars of your show have the night off and had on a round table of the bloggers who saw this coming.

Mike Panzner at Financial Armageddon
Karl Denninger at Market Ticker
Mike Morgan at Behind Enemy Lines
Jim Sinclair at JS Mineset
Mike Shedlock at Mish's Global Economic Trend Analysis

You then went a step further and brought on the boyz from Comstock, Charlie Minter and Marty Weiner as special guests. Not all of these guests agree (inflation vs deflation) on their investment stance or outlook but they all have clear ideas and opinions.

Unfortunately I woke up, only to see the same ol' guests on your show recommending more stocks to buy in a bear market. Yup, just what to do, buy stocks in a bear market. I anxiously await them to tell me short stocks in the next bull market. Your crew is better than most but lets mix things up a little. Who know, the show if promoted properly, could be an ENORMOUS hit! Besides, it would also help distance yourself from your status quo, don't rock the boat, pom pom colleagues.

Now that the stimulus bill has passed and is to be signed the talk is now that the bill wasn't big enough. Heaven help us all as this is what passes for intellect. Pathetic.

As for the markets, what should one say that the tape is not already saying loud and clear. I hope those that read here on a regular basis have taken countermeasures or in the least necessary precautions.

Housekeeping notes;

I am lowering my stop on AAPL to $102.05

I am lowering my stop on GS to $96.95

I am lowering my stop on DRI to $28.95

Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 2 units Ultrashort MSCI EAFE ticker EFU @ $89.80 stop at $89.80
Long 2 units Ultrashort S&P500 ticker SDS @ $69.80 stop @ $66.15
Long 2 units Ultrashort Real Estate ticker SRS @ $53.80 stop @ $47.18
Long 1 unit US Gasoline fund ticker UGA $21.85 stop @ $20.38
Short 1 unit Wells Fargo ticker WFC @ $20.20 stop @ $20.20
Short 1 unit Apple ticker AAPL @ $102.05 stop at $102.05
Short 1 unit Apollo Group ticker APOL @ $82.95 stop @ $86.32
Short 1 unit Goldman Sachs ticker GS @ 96.95 stop @ $96.95
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $20.71
Short 1 unit Darden ticker DRI @ $28.95 stop @ $28.95

1 comment:

Market Monk said...

Now that's a great idea!