Thursday, August 12, 2010

Things are Getting Better.... Aren't They?

I have had some in-laws visiting form out of town, Oklahoma City, so I have been away from my desk and unable to post. What I have had a chance to do is catch my first Tiger game of the year attending the Tigers Rays afternoon game yesterday. How can you not like that Brennan Boesch! 6'4", 235 and while everyone likes his bat, made a heck of a shoestring catch in right field late, that if missed was most likely an in the park homer.

Okay, okay the markets. Things are getting better so what's wrong with the market. Boobs and boobs on CNBC in panic mode with the Dow down a couple hundred, what's wrong with stocks? Market's cheap right? Things are getting much better.... aren't they?
  • Jobless claims up.
  • Repossessions up
  • Bankruptcies up
  • Equity fund outflows up
  • $26 billion in aid for broke state governments compliments of a broke federal government.
  • Quantitative Easing Part 2, yup paying the Amex card with the the Visa card, something only an equity trader could love. Oh, and a CNBC anchor or guest pundit.
  • Cisco earnings up 18% yet receivables up from 27 days to 41? Are you kidding me? This on the heels of "excellent visibility" statements last quarter. Hey, don't look over there buddy, look over here. Oh and by the way Cisco is a screaming buy! Right Wall St.?
  • Equity market volume surges on down days and trickles in on up days.
  • Should I even mention the bonds, yet again, for what the hundredth time? Bonds continue to tell a much different story than stocks.
It is all just way too funny for me if it all were not such a big scam. I just hope many out there have stopped drinking this recovery kool-aid CNBC is selling? If so I wish you well and don't forget you have no one but yourself to blame. But even then, if you still refuse to, you can turn on the propaganda network and be assured, Larry Summers, Tim Geithner and crew will come on with Maria to tell you absolutely no one saw this coming.

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 @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $22.52
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $92.15
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 93.48 stop @ $93.48
Short 1 unit Apple ticker AAPL @ $275.20 stop @ $266.50

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