I noticed Ben Bernanke is criticizing the Chinese for their currency policy. Bernanke said that "undervaluing the Yuan has thrown a monkey wrench into the global recover.". Don't you just love it when one heroin dealer on a street corner chastises and reprimands another heroin dealer's business practices on the other corner. Too funny.
I noticed the Ireland thing has gone away. Whew! What a relief that is. Oh yeah, and the Greece, Portugal, Spain and Italy thing too. Almost forgot about them.
I noticed Harrah's pulled their IPO today due to ahemmm.... market conditions. With the markets trading within spitting distance of their highs you use that line guys? Come on! Might I suggest some different spin doctors for your next press release. Something like maybe....
"due to an excess of popularity our proposed underwriting has generated with the pool of sophisticated investors we have tapped and their referenced desire for a more flexible, popularly priced security with additional features we have decided to postpone the offering until we can adequately accommodate all interested parties."
What'd ya think? Pretty good huh. Even Greenspan would like that piece of nothing garbage, oops, I meant linguistic masterpiece.
Sadly it looks like even the pool of hedge fund valet fools who'd use OPM (other peoples money) to buy anything accompanied by a knock em' out roadshow with plenty of liquor, stone crab and part time peelers in short skirts smelled that one out. Come on Harrahs get with it!
I noticed that University of California is hiking tuition 8%. I have a hint for the board of regents at Cal, Do yourself a favor and with this tuition hike don't forget to give the football and basketball coach's a $500k raise each. While your at it. Make sure all you board members continue to fly first class to each garbage 'continuing education' junket they attend. Also make sure that any events you sponsor are held at the finest 6 star resorts. GM and the Administration has also indicated it wouldn't hurt if you increase your automobile allowance as well. Just a thought.
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 U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.38 stop @ $7.84
Long 1 unit Powershares Gold Dbl Short ticker DZZ @ $8.61 stop @ $8.04
Long 1 unit Barclays 20yr Treas Bond ticker TLT @ $95.61 stop @ $94.69