Friday, January 29, 2010

Charts - Smorgasbord of Golds

Gold Bugs index ticker $HUI, also fondly known as the "Hewey", monthly view above. Now before you gold bulls rip my ears off, please read my comments on the chart and give the idea a chance.

Market Vector Gold Miners ticker GDX, weekly view above.

Kinross Gold ticker KGC, weekly view above.

Agnico Eagle ticker AEM, weekly view above.

Royal Gold ticker RGLD, weekly view above.

Goldfields ticker GFI, weekly view above.

Yamana Gold ticker AUY, weekly view above.

Anglogold Ashanti ticker AU, weekly view above.




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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81
Short 1 unit CurrncyShr Aus Dlr ticker FXA @ $89.65 stop @ $91.71

Wednesday, January 27, 2010

Keep Repeating The Lie

Are you watching this circus today with Geithner on BubbleTV?

Are you watching Rep. Kanjorski grovel over how Treasury Sec. Turbo Tim Geithner saved the world like a Marvel comics superhero?

One might conclude Kanjorski's act to be teabagging as opposed that of the citizens who peacefully assembled to protest over the past year

Over and over again even the aiders and abettors in congress and the senate just keep repeating the lie. That geing we were going to blow up into oblivion, and the new one he laid on us today, that we would not be functioning under the Constitution.

I was under the mistaken assumption only equity bears and fringe, idiot bloggers were the only fear mongerers.

Kanjorski should be on Comedy Central, not in Washington D.C. This perpetual repetition of Armageddon, End of World as we know it, utter collapse, cats sleeping with dogs. It all reminds of a piece I read earlier this month from Rick Ackerman.

Back in the first week of January, Rick, who is a blogger and trader extraordinaire, had a very timely and appropriate quote at his site Rick's Pick's. In the piece entitled Big, Brazen Lies Sustain Economy, Rick wrote the following:


"Still, we don’t fault the spinmeisters for trying so desperately to tell it like it isn’t. As Joseph Goebbels famously said, “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.” The rest of this quote is less often repeated, but it holds dire implications for the economy and perhaps even for the political system if and when Americans realize that it is lies alone that have kept us from crashing. Here’s how the Nazi propagandist finished the thought: “The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie.” And so we might ask, how much longer can taxpayers be shielded from the consequences of a federal deficit on its way to $14 trillion or more? And how many believe the whopper that spending yet more trillions in Keynesian fashion – which is to say, flushing it down the toilet – will enable us to grow the economy from a cosmic trench of indebtedness?


Yes, the playbook is well worn by men like Paulson, Geithner, Greenspan, Bernanke, and the rest of the Washington. Just keep repeating the lie, over and over and over again. You might even get your pet parrot to say it as well.

And for extra measure,
when you are not repeating the lie, pull out the Sargent Schultz line (of Hogan's Heroes fame) .... I know nothiiing, I know nothiiiing !!

You also have to really appreciate the memory of a guy who recalls everything that saves his skin line item by line item, yet has no recollection of anything else, but not before wrapping yourself in the cloak of patriotism.

Pathetic, absolutely pathetic.


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

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81
Short 1 unit CurrncyShr Aus Dlr ticker FXA @ $89.65 stop @ $91.71

Tuesday, January 26, 2010

Short the Aussie Dollar

Currencyshares Australian Dollar ticker FXA, weekly view above. Note the weak volume rally since the trend line break. The failure to better the old high has garnered my interest. This is my cue to get short.

I am getting short 1 unit of the Aussie dollar via the FXA here at 89.75 with a stop at $91.71


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81
Short 1 unit CurrncyShr Aus Dlr ticker FXA @ $89.65 stop @ $91.71


Monday, January 25, 2010

A Few More Charts - X, PH, AA

U.S. Steel ticker X, weekly view above.

Parker Hannifin ticker PH, weekly view above. Remember the gap and crap?

Alcoa ticker AA, weekly view above.


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

One Big Ponzi Scheme

I came across a piece today (courtesy of the cats over at Zero Hedge, mucho thanks !!) from Albert Edwards, chief strategist at Societe Generale, whom I follow quite closely. His article entitled: Theft! Were the US and UK Central Banks Complicit in Robbing the Middle Classes is must reading.


For those who wonder why I follow Edwards work, here is a snippet from what he was saying back in Dec 2005:

As far as Alan Greenspan’s tenure at the Fed is concerned, we have spared few words of derision. We have made plain our views that the supposed US prosperity that has accompanied his tenure has been based on a grotesque mountain of debt. We have likened the economy to a Ponzi scheme which will ultimately collapse. He has allowed the funding of strong economic activity by mortgaging the US’s future against one bubble (equity) and then another (housing), which is now beginning to implode”.

I beg you, please take a few moments to read his article which you can view here. It is well worth your time.


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Sunday, January 24, 2010

More Weekly Charts - RKH, XLF, XRT, IYR, GDX, OIH

Regional Bank holders ticker RKH, weekly view above.

Financial spiders ticker XLF, weekly view above.

Retail spiders ticker XRT, weekly view above.

ishares Dow US Real Estate ticker IYR, weekly view above.

Market Vectors Gold Miners ticker GDX, weekly view above.

Oil Service holders ticker OIH, weekly view above.


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Select Weekly Charts - QQQQ, DIA, SPY, IWM, MDY, IYT, EFA

Nasdaq 100 tracking stock Triple Q's ticker QQQQ, weekly view above.

Dow Industrials tracking stock Diamonds ticker DIA, weekly view above.

S&P 500 tracking stock Spiders ticker SPY, weekly view above.

ishares Russell 2000 ticker IWM, weekly view above.

S&P Mid Cap shares ticker MDY, weekly view above.

ishares Dow Jones Transports ticker IYT, weekly view above.

ishares MSCI EAFE ticker EFA, weekly view above.






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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Friday, January 22, 2010

The Opposite

Well that was some press conference our President held yesterday. His comments regarding the banks seem to have the well, connected, nepotistic, lucky sperm club, Wall St. crowd in a tizzy, or in the least guzzling copious amounts of Pepto-Bismol.

You must be absolutely stunned to see the don't move my cheese, fair weather capitalists -whom are simply socialists in drag - out in force denouncing his proposal. Even some cats I have the utmost respect for a jumping all over the proposal.

I realize that this is truly an outlier concept and foreign to most of the beltway experts but can you imagine how simple this all would have been if those in charge had let those who gambled like drunken sailors fail magnificently.

Oh yeah, I forgot.... Armageddon was imminent right Hank, right Turbo Timmy? At what point do we as a people wake up and recognize the Armageddon line for what it really was.

Pure bullshit!

When will people realize we would have survived, that it was all just a big bluff.

You disagree do you? You really believe Bernanke, Paulson and his ilk saved us from the Great Depression 2 ?

The same people who argue Bernanke did yeoman's work saving us for apocalypse, pulling us back from the abyss are the exact same crowd who now ridicule and deride current naysayers, like myself, who question the economic recovery.

Translation for ya..... it is only Armageddon when they tell us it is or at least it is only after they've had a chance to exit their positions. These people are nothing but charlatans, thieves and thugs, nothing more.

Listen, it is all quite simple.
You want to trade for you own account, on Wall St. this is called prop or proprietary trading, then do it with your own money !! You don't get a taxpayer backstop on losses and when you blow up you get to keep nothing. Please stop listen to the crowd that calls this egregious interference in the capital markets for as Ron Paul has said we have had free market capitalism since about 1914.


So why is this concept so alien the Masters of Universe of Wall St.?


Well, maybe because they have become accustomed to gambling with other peoples money and simply living off the crumbs.

Yes I do realize the President's new proposal would not have stopped AIG and Joe Cassano, speaking of which, isn't he lying on a beach in the French Riviera earning 4% on treasury paper.(nice huh!)

Simply following and ENFORCING regulations already on the books would have prevented the AIG fiasco. That and a healthy dose of consequences, (sorta like the Chinese are fond of, see here) whereby men like Cassano, O'Neil, and Raines who ran their respective entities into the ground don't get to retire to Switzerland with the loot.

AIG underwriting what they did is no different than the 12 year down the street selling $1,000,000 policies and minting a fortune in the process. Until he has to pay out on a policy that is. Gee, I figured that out sans a Harvard MBA. Go figure !


There is also quite a stir now over the Ben Bernanke confirmation issue with some 'shelf life past expiration' senators flip flopping on his support. Are you shocked CNBC is trotting out the shills like Broaddus, Rivlin and McTeer to 'tea bag'. Standard operating procedure

I actually am ashamed to watch these grown men and women grovelling in public. Simply pathetic what they have become. We are in the pickle we are in because of this crowd and their ideas. Just watch CNBC and Bloomberg today, they're all out in force. The establishment voices. The vested interest crowd. The we're so brilliant crowd, so brilliant in fact, we took century old institutions that had survived world wars and blew them to smithereens.

Not only did these intellectuals NOT see any of this shit storm coming, they ridiculed and marginalized anyone who dare say it was upon us.

Not only did these intellectuals bail out themselves, their cronies in management and board positions and their assorted country club pals from being wiped out but threatened armageddon and martial law if anyone opposed their heist of the treasury.

Try this on for size. How bout we ignore the "we never saw it coming but now we see it all so clearly now" crowd for a change. Maybe just maybe if what they are pumping and promoting is wrong maybe the opposite is right?

So like Jerry Seinfeld said to George Costanzo from the sitcom Seinfeld in the episode "The Opposite"
where George has an epiphany:

"If every instinct you have is wrong, then the opposite would have to be right."





So yes, let's do the opposite of what Bernanke, Geithner, McTeer, Broaddus et al. tell us to do.

Further to that, and while we're getting crazy, let's do the (in my opinion logical, rational thing) and simply SHUT THE FEDERAL RESERVE DOWN here and now !

Shut it down for good as I for one have had enough of them saving us.


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

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Thursday, January 21, 2010

Something is Rotten in Denmark

I realize being bearish posture of late makes me the classroom dunce. I also realize this proves for all to see that my IQ resides just slightly above room temperature. Given my circumstance I need an enormous favor.

In this vein, I would greatly, no.. .check that, I would strenuously appreciate someone explaining to me how we can get a market down 100 one day, up over 100 the next, then down 200 only to rally 100 towards the back half of the day, only to then be followed up by being down 150 the next day.

Yes, call me crazy for assuming a bearish stance in the face of rising job losses, rising emergency unemployment claims, rising home foreclosures and credit delinquencies.

The up and down part I get, what I need the help with is how we get a VIX below 20 in the face of this. Given my previously reported IQ, I have come to the simpleton conclusion or a least one that Shakespeare might have, that something is rotten in Denmark. Someone, other than Chuck Prince of the music's playing so we're dancing fame, please straighten me out.


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Wednesday, January 20, 2010

A Quick Word to Scott Brown


Okay Scott Brown won. Now the Democrats will do everything in their power to hang this around Coakley's neck which is to be expected by people whose every success is a result their acumen and failure is someone elses' fault. Gotta love how cannibals treat one another no?

I wanted to write on piece on what the win by Brown was a reflection of. Rather than do this I will post what Karl Denninger over at Market Ticker had to say on the subject this morning in his post A Warning to the Washington DC Establishment which is absolutely spot on:

The message that should be taken from Brown's victory is simple, succinct, and clear:

  • Ramrodded policies are not going to be tolerated. It doesn't matter if it's The Fed doing it, President Obama doing it, or Congress doing it. PUT THE FACTS ON THE TABLE, DEBATE OPENLY, AND MAKE NO MORE CLOSED DOOR DEALS IRRESPECTIVE OF THE SUBJECT MATTER!

  • President Obama said he was NOT an agent of the banksters and fraudsters on Wall and K Streets alike. HE LIED. Neither party has been willing to address this problem but it must be addressed right here and now. Those who committed fraud during the bubble years, and this includes most particularly those on Wall Street, must be held to account. Each and every firm on Wall Street must be subjected to a full forensic audit with all indications of criminal wrong-doing turned over to a Grand Jury - NO EXCEPTIONS.

  • Start listening to The American People. NOW. America will NOT tolerate a ramrodded health care bill. America will NOT tolerate being ripped off with 30% credit card rates while banksters rake in billions in bonuses - "earned" through phony accounting and government handouts. America will NOT tolerate being ignored when they tell Congress by 100:1 margins (or more) to NOT PASS TARP. America will NOT tolerate so-called "trading partners" who exploit effective slave labor conditions and then rob our nation's secrets and her corporations blind, then sell us poison toys and costume jewelry. And America will NOT tolerate any more of the BS from Washington, Wall Street and foreign nations that are in Congress' pocket - and that got us into this mess. WE DEMAND JUSTICE NOW.

  • Want to lose your job Senators? VOTE TO RECONFIRM BERNANKE AND YOU'RE FIRED.

STOP THE LOOTING (and spending) AND START PROSECUTING RIGHT DAMN NOW!

Politicians cannot take from this win that either party is "safe" or "has favor" with The American People.

This win was about one thing above all others:

WE THE PEOPLE HAVE HAD ENOUGH OF THE DUPLICITY, LIES AND CON JOBS, AND IF YOU DO NOT LISTEN TO US AND STOP IT - BOTH IN WASHINGTON DC AND ON WALL STREET WE WILL THROW YOU OUT ON YOUR ASS.

DO YOU HEAR US NOW WASHINGTON?

IF YOU DO NOT WE ARE COMING FOR YOU ON NOVEMBER 2nd 2010 - THAT'S A PROMISE.


Well put Karl. My sentiments exactly.

It is my opinion that Scott Brown's one liner in a debate, where he corrected David Gergan (moderator), that this senate seat was not Kennedy's seat, nor the Democrat's seat but rather the people's seat, won this election plain and simple. The people are fed up with being ignored.

A quick word to Scott Brown. Remember Scott this senate seat not only is not Ted Kennedy's, nor is it the Democrat's it is not the Republican's either !! It is the People's seat !!

I would also counsel you Scott that if you start drinking the Washington kool-aid of hubris and forget this fact then you will be out on his ass as quickly as the Democrat were before you. Now got to Washington and represent THE PEOPLE.



As a side note I happened to listen in to Warren Buffett interview with... surprise Becky Quick this morning on Bubblevision. If anyone was ever confused about tea bagging one could really see the personification of this phrase on display this morning. You would think Ben Bernanke and Jamie Dimon should be deified listening to this clown-in-chief, which quite frankly and yet sadly is exactly what Buffett has become. What a shame.

Would anyone else prefer to see a Buffett interview conducted by someone with just a little smidge of gravitas? I am sure e-Hollywood Becky is a wonderful gal as is her CNBC producer husband but
I have had all I can handle of the Howard Marshall / Anna Nicole Smith routine.

Now before you burn me at the stake, this interviewer with gravitas most certainly doesn't have to be a man as there are plenty of eminently qualified female anchors out there like a Diana Olick, Mary Thompson or Sue Herrera for starters. Just my opinion.


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Tuesday, January 19, 2010

Some Select Charts

ishares Emerging Mkts, ticker EEM weekly view above.

ishares China 25,ticker FXI weekly view above .

Spiders, ticker SPY weekly view above.

Blackrock, ticker BLK weekly view above.

Parker Hannfin, ticker PH, weekly view above.




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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Thursday, January 14, 2010

Say it Ain't So Wilbur


Longtime readers know I have lauded the business acumen of one Wilbur Ross. His low key, calm demeanor and apparent modesty was a welcome sight as compared to some of the more, lets call them flamboyant business leaders, we see over and over across the screen.

It is with great sadness I read of his comments this morning calling for a new Cash for Clunkers program. At first blush I wondered if it was a misprint, if there could be a 2nd, fascist Wilbur Ross imposter running amok. But alas my hopes were dashed. "There's positively no way Ross said that" I remarked to myself. Unfortunately I was wrong.

"Wilbur Ross Jr., said the U.S. government should introduce “tomorrow” another car-buying incentive program to stimulate the economy and create jobs. "

"A new “cash-for-clunkers” initiative must be simpler, larger and last longer than the $3 billion version run by the Transportation Department in July and August, said Ross, who formed International Automotive Components Group by buying distressed partsmakers."

“They should do it tomorrow morning,” Ross told reporters today after a speech at the Automotive News World Congress conference in Detroit. “I think a fair amount of the growth in the third quarter of last year was due to the cash-for-clunkers and the first-time home buyer subsidies.”


I am at a loss. I can only offer the following, "have you lost your mind Wilbur?"

Who the heck is advising you, because they need to be fired now. Whatever kool-aid you are drinking you need to cease and desist immediately as it is affecting your brain.

You might ask, have we all lost our collective marbles? Are we truly in the Twilight Zone or some parallel universe where up is down, down is up, cats sleep with dogs, etc.... pure anarchy? Sadly the answer may be yes.

Sadly and much more ominously I worry that something much larger is afoot. That this event merely reflects a socio-economic watershed event for what was once the free-est of free markets on the planet. There is a mood shift out there and we should take note.

Regarding the job issue Wilbur mentioned, maybe Wilbur could pick up the phone and call some of his CEO buddies who have moved the manufacturing jobs to Burma, Thailand and China and pressure them to bring some jobs back here instead of operating in the slave wage and condition confines of southeast Asia and other parts of the 3rd world.

I am heartbroken due to the fact that we have one of this great country's leading beacons of capitalism - a man who has amassed a fortune of over a billion dollars, a man who is the embodiment of the words 'free market capitalism' can utter the words he did today.

So just like the little boy who after hearing accusations of the White Sox throwing the World Series, said to Shoeless Joe Jackson as he saw him leaving the courthouse, I offer similar words of disbelief

....... "Say it ain't So Wilbur!"

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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Wednesday, January 13, 2010

Daimler, Commissions and Bankers


The chart of Daimler ticker DAI (daily view above) shows a steep decline that commenced in mid October and was accompanied by heavy volume. Since early November when the decline was arrested the stop has been slugging and slogging higher and looks to be rolling over.

I am punting 1 unit short of DAI here at $52.33 with a stop at $54.81

Are you catching any of the dog and pony show, errr excuse me, I meant the FCIC (Financial Crisis Inquiry Commission) hearing with the bankers today on Nirvanavision? Nice to see these leading lights of American capitalism and ingenuity set us all straight. How much you wanna bet that if they (GS, JPM, MS et. al) were all wiped off the face of the earth, plenty of companies would still be able to raise capital and access markets, at much cheaper rates given the expensive middle man now being removed from the equation along with his vig?

Yeah, I know. That's far too sophomoric, juvenile, and simplistic an explanation as things are much complex and sophisticated in real world global capital markets. This has to be true, just ask the manager of that fund in your 401k/IRA account who bought Wall St.'s cyanide laced, alphabet soup, PIK , toggle crap not worth the paper it was printed on bonds for your retirement account. But don't take my word for it, make sure you run it by a Harvard MBA for a more detailed, cerebral assessment.

While on the topic of commissions like the FCIC, maybe Lord Blankfein and his rocket scientist minions over at Goldman can conjure up a product so I may get long political commissions. Actually a double or triple long would be great Lloyd. I mean, so long as you're continuing to do God's work and all.

Is it just me or is their (the bankers testifying) verbal diarrhea just beyond pathetic. I just love when they offer their opinions and why the heck are they even speaking without orange jumpsuits and leg irons on?

Here are a couple of outrageous and novel concepts I would like you to consider. Let's say we convene a panel of local, community bankers who:

a) DIDN'T lever up 40, 50 and 60:1,
b) DIDN'T aid, abet and foster mortgage fraud,
c) DIDN'T package NINJA loans into toxic packages for investors blowing up their institutions in the process and lastly,
d) KNEW the loan applicant, verified his/her statements and held and holds the loan on the books, and..... hang on now, I'm not done..... marked to market! (i know this last one is truly amazing in its complexity)

or....

How about we convene a panel of idiot bloggers - who saw this whole thing coming and yet to this very day continued to be ignored by Washington and marginalized by the mainstream media - for some real answers.

Hah ! Never in a million years. Why? Cause then the indictments would have come raining down and that is simply intolerable.

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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit Daimler ticker DAI @ $52.23 stop @ $54.81

Tuesday, January 12, 2010

You Just Don't Understand China

Lots of chatter out there regarding the Goldman Sachs memo that came out last night indicating that the firm indeed does front run clients. But hey, according to Charlie Gasparino they were just hedging their positions prudently. News flash for Charlie, when I sell what you buy we are opponents. When I do this and you are my client I am a thug, a thief and a charlatan and totally deserve what is coming to me.

There is nothing more to say about all this except a firm like Goldman, like others on Wall St. manufactures and produces nothing, ergo it is all about the people. You know the smartest people in the room. Suffice to say that in this writer's humble opinion, just as having a stint at Goldman on your CV was a ticket to career stardom on Wall St. previously, it will be a lead albatross around your neck (if not something far worse) going forward. The Gambino's, the Bonanno's and the Genovese's must be absolutely blushing for the chutzpah.

Remember that movie Boiler Room I have commented on so often. There you have Goldman in a nutshell, just much better dressed re: Canali over Mens Warehouse.

Many of you out there may have seen these videos already but just in case you haven't here goes. This first one is of China's empty city of Ordos. Yes, you read that correctly, Ordos is an empty city.




This next video is done by Hugh Hendry manager of the Eclectica Fund on the Chinese economy and property market.





And lastly you can click here for a great PBS video on South China Mall, the world's largest mall and sits almost entirely empty. But hey, don't piss on the great miracle that is China, you surely must not understand it.

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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

It's the People's Seat

Regular readers of this blog know that I am a political atheist and hold both parties in the same disregard. Much like WWF wresting, all the fluff is for show. That said I have very little knowledge of or background info on Scott Brown, republican candidate for the vacant senate seat from Massachusetts. Please watch the video below and pay special attention to the lifetime leech and parasite, living off the public tit David Gergan and his question.





Can you imagine what our dear ol' USA would look like if left to the devices and ideals of men like David Gergan or a Karl Rove instead of men like Andrew Carnegie, Henry Ford, William Durant, and Harvey Firestone? Hey, wait a minute. We already can. Just look around you, we live in it right here and now!


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

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

Monday, January 11, 2010

Short End of the Curve





The above charts are weekly views of the short end of the treasury market. Starting from the top with 1 month, then 3 month, 6 month and finally 1year note yields

I would dearly appreciate for someone to explain, given the economic recovery going on, why it is that the short end of the bond markets are yielding basically what they were back in late 2008/early 2009 when the equity markets were pricing in Armageddon.

Today we received news from the treasury that the 13 week (90day) bill auction yield was 0.04% and the 26 week (6month) bill auction yield was 0.13%

So who is right, the bond market or the stock market? The stock market is shouting happy times are here again with the bond market singing a completely different tune. I am betting with the bond guyz and galz as regular readers know my assertion that the equity crowd rode the short bus to school.

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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

Thursday, January 7, 2010

The Land of Lawlessness

The title says it all. How else would one describe, aside from being the most partisan political hacks like a Sean Hannity or Keith Olbermann, this news regarding Tim Geithner and AIG? In what can only be described as financial treason we get news this morning that;

"The Federal Reserve Bank of New York, then led by Timothy Geithner, told American International Group Inc. to withhold details from the public about the bailed-out insurer’s payments to banks during the depths of the financial crisis, e-mails between the company and its regulator show. "

Actually a more appropriate description of these actions by a President of the New York Fed might be treason.

trea·son (trē'zən)
n.
  1. Violation of allegiance toward one's country or sovereign, especially the betrayal of one's country by waging war against it or by consciously and purposely acting to aid its enemies.

  2. A betrayal of trust or confidence.


Origin:
1175–1225; ME tre(i)so(u)n < class="ital-inline">traïson< class="ital-inline">trāditiōn- (s. of trāditiō) a handing over, betrayal. See TRADITION


1. Treason, sedition mean disloyalty or treachery to one's country or its government. Treason is any attempt to overthrow the government or impair the well-being of a state to which one owes allegiance; the crime of giving aid or comfort to the enemies of one's government. Sedition is any act, writing, speech, etc., directed unlawfully against state authority, the government, or constitution, or calculated to bring it into contempt or to incite others to hostility, ill will or disaffection; it does not amount to treason and therefore is not a capital offense. 2. See DISLOYALTY.


But don't worry what I think about all this. What do you suppose men, real men like Washington and Franklin, Jefferson and Hamilton would think about this? You think they're rolling in their graves right now? Based on past actions of these Founding Fathers of this great nation, one might glean a very good idea what these same men would be doing now were they among us today. Suffice to say buying stocks and watching American Idol would not be among them

Back to this, groomed from birth, scumbag named Geithner. He is just one of the the faces of the underlying disease that infests this great nation. A disease personified by thugs named Rubin and Summers, Greenspan and take your pick of a senator. We are now nation that was once one made of laws that applied to ALL and hard work which has sunk to a lawless, looting entity of influence peddling, bribe taking, surrounded by just-as guilty-so-sweep-it-under-the-rug self policing committees.

Actually I think the founding fathers would be more ashamed of the rest of us (the masses) who sit here and take it. Yes, ashamed and heart broken over the spineless state of us all. There has been a coup d'etat dear readers by the bankers and financial elite. It has happened. It was orchestrated and executed right beneath our collective noses.


I will finish leaving you with a couple of quotes from Patrick Henry, one of the lesser known Founding Fathers of the country, who is responsible for the famous quote we all know "give me liberty or give me death".

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them."

Seems appropriate for our current times, no? Well, how about this one;

"Bad men cannot make good citizens. A vitiated state of morals, a corrupted public conscience are incompatible with freedom."

Patrick Henry, American colonial revolutionary


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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

Tuesday, January 5, 2010

Extortion is Illegal...Even in Iceland

For those that have not been paying attention, Iceland is going to be a business school case study some day. The quick and dirty on this is that over that last few years many mainland European depositors discovered, via the internet, the benefits of higher interest rates offered on deposits by ebanks in Iceland.

Hence the torrent of funds chasing higher yield began and which all unraveled when the banking system in Iceland collapsed in the fall of 2008. Since then has been a game of chess between Iceland and the European community as the the governments there, (Dutch and British in particular) strong arm the Icelandic government to make good on the losses, as they have reimbursed depositor's losses fully expecting to be able to strong arm Iceland via their muscle the IMF and the World Bank (the enforcers) into paying. Europe is also trying to leverage Iceland desires to enter the EU to their advantage.

They may have very well succeeded, up until the point where the Icelandic masses got wind of the stench for what it truly was, a government sanctioned EXTORTION scheme. An extortion scheme that would leave the Icelandic taxpayers and their children, and their children's children on the hook for $4.3 billion euros.

It seems that the deal for extortion was signed sealed and oooops....the plot thickens. It appears the people of Iceland, in particular 60,000 out of a total of 320,000 (or about 19%) have signed a petition objecting to being , your can insert your own adjective here. Bloomberg reports that over 70% of the country object to the agreement.

"The bill, which polls show about 70 percent of the population opposes, had obliged Iceland to use $5.5 billion in borrowed funds from the U.K. and Netherlands to cover depositor claims from the two countries after the failure of Landesbanki Islands hf in October 2008. The absence of clear cross-border regulatory rules on depositor insurance has allowed settlement of the claims to drag on and left Icelandic taxpayers disgruntled over having to pay for the failure of a private bank. "

thus forcing the President to veto the previously agreed to agreement. The Brits have responded to the agreement veto with this;

"Iceland would cut itself off from global financial assistance if its people vote not to compensate Britain and the Netherlands for losses caused by the collapse of Icelandic bank Icesave, Britain's financial services minister Paul Myners said on Tuesday."

"The Icelandic people, if they were to reach that conclusion, would effectively be saying that Iceland does not want to be part of the international financial system, that Iceland doesn't want to have access to multi-national, national and bilateral funding and doesn't want to be regarded as a safe counter-party with whom to do business,' Myners said."

Don't you just love it when not only bankers but the politicos are all involved in doing God's work. My sincerest congratulations to the citizens of Iceland. Tell them all to shove their concerns where the sun don't shine and if they want redress they should round up the guilty bankers, set up shop in a public square, buy a guillotine, sell tickets.... ahhh, but yet again I digress.

Something else in the news regarding this caught my eye as well;

"Another problem looming for Iceland is the IMF loan which the country was granted to help solve the financial crisis. The IMF lent Iceland billions of dollars - on condition that the Icesave dispute with the UK and the Netherlands would be solved. The IMF has not reacted to the latest developments."

Tell the thugs at the IMF, whose goal is to make the face of the planet a debt indentured slave, to piss off. (I'd use more colorful language but his is a family channel). Pay em' back and tell em' to scram. Don't pay em' off and tell em send you to collections. Either way get as far away from those leeches and parasites as possible.

Congratulations to the citizens of Iceland but don' t take your eye off the ball. The IMF and World Bank will offer every carrot(re: trap) in the book to your political leaders. DO NOT BE FOOLED. Tell them NO means NO. While your at it remind them extortion is illegal. Sadly is seems to be legal here in the U S of A.

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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

New Years Resolution

Over the Christmas holidays I did some self reflecting. This reflecting is done on all aspects in my life views be they political, social, economic, family etc. You get the drift.

One item of self reflection that I want to share with you is my stance on free trade. To many this means NAFTA the North American free trade deal between Canada the U.S. and Mexico. I have been a free market guy all my life, survival of the fittest type thing. I used to argue for hours with my father on many things as a young buck and politics was our speciality in our household debate menu.

I used to extol the virtues of unfettered access to markets, unrestricted flow of people and goods, blah, blah, blah. My father on the other hand has significant doubts about the benefits of this and those drawing up the attendant rules. My dad is no longer with us but I owe him a very large apology in yet another admission on my part that he (yet again) was right and I wrong.

You see my father was not a Harvard MBA, but rather a graduate from the school of hard knocks on the street, with a PhD in dissecting bullshit artists, con artists and the like. He could never understand our dear Prime Minister, at the time Brian Mulroney, and his incessant trumpeting of free trade benefits.


My father could not understand how you could export jobs to Mexico, replacing labour up here with labour down there at a faction of the cost would ever work. He could never understand who was going to be able to afford to buy all these wonderfully new innovative and extraordinarily cheap products made south of the border.

"Who is going to buy the cars made in Mexico? Those workers there making $4/hour? Good luck!" I can still hear his voice !

He obviously did not have access to all the fancy formulae and hypothesis that the great economic leaders of the day possessed showing wonderful mutually assured benefits. NO wait synergies, isn't that the buzz word trotted out every time a merger or deal is announced, like AOL Time Warner right?

His prediction at the time that the massive manufacturing relocation to Mexico, that we saw as a result of free trade, would eventually be trumped by yet another manufacturing relocation to Bangladesh, Thailand, India, and China in a spiral to the bottom was spot on. The evolution from cheap labor to slave labour around the globe continues today and if you doubt this then a trip to Thailand and a local shoe or garment factory is in order. Better yet a quick visit to a Dubai work complex might be a better idea.


I argued all the points a young Gordon Gekko, Reaganite (deficits don't matter right?) would be proud of, problem is I could never address his query. Little did I know free credit from Easy Allan Greenspan and homes that would function as an ATM machine could keep the charade going far longer than any thought possible.

We kept buying those cars and toasters and DVD players, shoes and game boys.

Simply put there is no way we can compete. You invent a new gizmo today where are you gonna make it? Here, in Michigan? Land of the run amok union and socialist governor from Canada? Ha ha. nice one! South Carolina? Land of the government give aways of free water and utilities? No, You're gonna go to China.

You need a coating for your product? Why pay exponentially more for eco-friendly water based epoxy when you can pick up lead based product for a mere faction of the cost. Easy choice for the conscience light executive. Nice.

You have toxic commercial waste you need disposed of? Why pay exponentially more to collect, truck and treat the waste when you can simply dump it in the river. Again, easy choice for that one child executive in China. Really nice. The whole trade game is played on an distorted, unfair playing field. A boxing match as it were with one opponent fighting with only his left hand while the other uses both. Further, now add kicking and head butting and you start to get a more appropriate picture.


Yes it all sounds crazy, even to me but this seems to be a big global game of Daimler Chrysler. What the heck is that? Well, back when Daimler b0ught Chrysler in another merger full of synergies, I vividly recall an analyst, (whose name I cannot remember) remarking that either Chrysler needed to come up to Daimler's quality or Daimler needed to come down to Chrysler's. It sure appears to this simpleton that we a sinking to the 3rd world level as jobs outsourced leaving only an abundance of Wendy's, McDonalds, Starbucks and KFC "manufacturing jobs. By the Way, they're really not manufacturing jobs and could only be classifed as such by a politican or government statistician.

So as a result of this self reflection combined with a desire to make a New Years resolution I am embarking on a plan to buy exclusively American made! Now that I am married to an American. No more China for me. They can keep their lead paint toys and toxic pet food for themselves. I am buying whatever is made here. Further to this I am buying local to support local merchants.I would also encourage you to do the same.

And while I'm at it. Patronize your local bank or credit union. I mean, do your homework, but the odds are they didn't lend money to any sap who walked in and could fog a mirror like BAC, Citi and Wells did.

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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

Quick Look at UUP

Just wanted to bring your attention to the dollar, in this case the UUP (chart above). We seem to have a nice low volume consolidation that is correcting the recent sharp run up off the lows. We should pay attention to the $23.25 area as a move up thru this would be very encouraging to dollar bulls.

Housekeeping

Yesterday I was stopped out of my IWM position at $63.80 for a loss of just over 2pts on 1 unit.



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


Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97

Sunday, January 3, 2010

$50 Gold Coin..... No, Wait..... $20 !

Now that I can download videos, well, you guessed it..... video mania! In one of my favourites of 2009, Mark Dice tries to sell a 1 ounce gold Cdn maple leaf coin on the street for, can I have a drum roll please ...... $50 !!

No matter how many times I see it, it never gets old! I want to say I am shocked at the naivete, ignorance, apathy of the masses, (take your pick of adjective as they all fit) but really I am not. And you wonder why a Christmas Eve bailout gift to Fannie and Freddie, in the form of a blank cheque, goes by ignored by the masses. Sadly, we truly get what we deserve.

I am labelling this post under gold but I should label it under moron or stooge or mark but hey that would be insensitive and cruel. So hey, just enjoy the video below and see if you 'd rather laugh or cry afterwards. You can catch more work by Mark over at his website Mark Dice.com

P.S. wanna bet the over people in the video can name every one of Tiger Woods lovers along with the last 2 American Idol winners? I thought so.... me too!

P.S.S. Mark, I would love to see this done in the halls of congress. too funny.






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

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit i-shares Russell 2K ticker IWM @ $61.70 stop @ $63.80

Happy New Year !

HAPPY NEW YEAR everyone! Here's to a safe and prosperous 2010. I hope you all enjoyed your holiday, in some cases extended (as mine was!). So now with that out of the way it is back to blogging on a regular basis. I have learned how to download vido from the net (which I am jacked about!) so here goes my first download.

And while on the subject of being safe, I came across this video I think you should see. I have Swiss roots so this video is extra special.





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

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $6.05
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $8.49
Long 1 unit Ultrashort Real Estate ticker SRS @ $9.82
Long 1 unit Direxion Tech 3X Bear ticker TYP @ $10.68
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Short 1 unit i-shares Russell 2K ticker IWM @ $61.70 stop @ $63.80