I want to take a minute and congratulate Dylan Ratigan over at MSNBC. He has been front and center with his work on the fraud and ponzi that our financial system has become. Since leaving the Propaganda network (CNBC) Dylan has become ever more aggressive in his Bill Black was on Bloomberg Friday of last week and I have not been able to find the video of the interview in its entirety. Luckily for us Dylan had Bill Black on his show today and if you have not heard what Mr. Black has to say on the subject I urge you to raise your antenna and tune in. I strongly suggest you listen to the interview which you can find here. Please listen very closely.
He is no shill, he is no lunatic, fringe, idiot blogger like yours truly. He is articulate, he is in command of the facts, and he is experienced as having been at the center of the cleanup of the S&L debacle and getting many of the thugs responsible jailed. He is intimately acquainted with our financial system. He knows a criminal when he sees one as he is the noted author of the book The Best Was To Rob a Bank is To Own One.
Now I realize the institutional money/hedge fund valet crowd has more important things to do than listen to Bill Black - things like getting on board the train of the moment SOHU, CMG, or whatever else happens to be sizzling. That crowd will ignore Mr. Black just like they ignored the multitude of housing doomsayers back in 07 and 08 as there was far too much money to make and bonus' to chase buying the sizzling ABK, MBI, CFC, AIG, LEH and BSC all the way up and all the way down. But you should make it a priority to avail yourself of Black's thoughts on the situation. You will most certainly be glad you did. Bill most certainly is a grain of sanity in an ocean of ignorance and ineptitude!
I was stopped out of my IBM position today at $141.22 for a loss of just shy of a 1.5pts 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".
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 ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $98.74
Long 2 units U.S. Dollar Bull ticker UUP @ $22.56 stops @ $21.94/$21.44
Long 1 unit Powershares Gold Double Short @ $9.07 stop @ $8.67
Short 1 unit American Express ticker AXP @ $39.45 stop @ $40.51
Short 1 unit Apple ticker AAPL @ $312.25 stop @ $315.37
Short 1 unit Caterpillar ticker CAT @ $78.05 stop @ $81.71