Friday, September 23, 2011

Getting Shorter the Yen

You can call me crazy, (just don't call me late for dinner) but I am just compelled to add to my short Yen position here. I shall do so by buying a 2nd unit of YCS here at $13.59


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 @ $96.70
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 @ $98.25
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 2 units US dollar Bull index bullish ticker UUP @ $22.04 stop @ $21.17
Long 2 units Ultrashort Euro ticker EUO @ $18.87 stop @ $17.44
Long 2 units Ultrashort Yen ticker YCS @ $13.66 stop $13.27

Getting Short the Yen

There are some interesting developments going on in the USD/JPY which is the dollar/yen cross. I think the dollar is headed up vs the Yen. I am prepared to play this via the Proshares Ultrashort Yen ticker YCS here at $13.52


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 @ $96.70
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 @ $98.25
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 2 units US dollar Bull index bullish ticker UUP @ $22.04 stop @ $21.17
Long 2 units Ultrashort Euro ticker EUO @ $18.87 stop @ $17.44
Long 1 unit Ultrashort Yen ticker YCS @ $13.62 stop $13.27

A View of the Euro

As promised here are the Euro charts. Below is the Currencyshares Euro ticker FXE on a daily basis. Quite a ways to go on the downside here with the trendline break.

Next up is a daily view of the Proshares Ultrashort Euro ticker EUO. I love that gap up thru the 18 area on the 9th on heavy volume, shook everyone out who bought it only to power higher yet again.


As promised here are the Euro charts.



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 @ $96.70
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 @ $98.25
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 2 units US dollar Bull index bullish ticker UUP @ $22.04 stop @ $21.17
Long 2 units Ultrashort Euro ticker EUO @ $18.87 stop @ $17.44

Getting Shorter the Euro

I might be a little early here but I am comfortable getting shorter the Euro via the Ultrashort Euro ticker EUO here at $18.95

I will post a chart shortly.

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 @ $96.70
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 @ $98.25
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 2 units US dollar Bull index bullish ticker UUP @ $22.04 stop @ $21.17
Long 2 units Ultrashort Euro ticker EUO @ $18.87 stop @ $17.44

Wednesday, September 21, 2011

Getting Longer the Dollar

I am very comfortable with what is transpiring with the U.S. dollar. The time has come to add to my long US dollar position here via the UUP at $22.01

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 @ $96.70
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 @ $98.25
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 2 units US dollar Bull index bullish ticker UUP @ $22.04 stop @ $21.17
Long 1 unit Ultrashort Euro ticker EUO @ $18.69 stop @ $17.44

Punting the Euro

I am using todays action (re: Fed news) to get short the Euro. I shall do this today via the Proshares Ultrashort Euro ticker EUO here at $18.59

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 @ $96.70
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 @ $98.25
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 Powershares US dollar Bull ticker UUP @ $21.96 stop @ $21.17
Long 1 unit Ultrashort Euro ticker EUO @ $18.69 stop @ $17.44

Monday, September 19, 2011

Something Definitely is Idiotic

Many of you probably already saw this CNBC exchange back on Sept 8th between Rick Santelli and Pullitzer prize winning journalist and full time uber expert and all things Thomas Friedman of the NY Times.

I brought it up to a friend who had missed it, so just in case you did too here it is below for your viewing pleasure. The piece is fantastic as CNBC's Rick Santelli asks the uber expert Thomas Friedman if he thinks Social Security is a ponzi scheme.

The exchange quickly went downhill from there as Santelli pressed Friedmans no answer. Watch Friedman's reaction to Santelli's pressing. Also take note of Steve 'Fed water boy in chief' Liesman come, like Pavlov's dog, to poor Friedman's defence.

Uber intellectual Friedman, getting noticeably frustrated with Santelli ups the ante with:

"What does your question have to do with reality?"

Seriously Tom.
That's it?That's your reply? What does your question have to do with reality? Maybe its just me but I would expect more from a Pullitzer prize winning journalist.
C'mon Tom, step up. You're a serious intellectual and this is a serious matter and Santelli just said you're full of shit.

Actually Friedman's answer fits in perfectly with the standard practice of the smartest in the room types who are in charge of denying reality that a 7 yr old with basic math skills can figure out yet Ivy league MBA's cannot and continuing to promote the wizard of oz fantasy of free money, easy credit and never having to pay for any of it.

Well readers, it gets better.

You see uber genius, Friedman may not know whether to scratch his watch or wind his ass when it comes to the capital markets but he sure knows when someone has owned his ass in a debate.

So of course he gets his Pullitzer prize winning dander up and comes back with this gem of a retort when Santelli pressing him to answer the question of whether or not Social Security is a ponzi scheme;

"your question is idiotic".

Yup, when asked if Social Security is a ponzi scheme we get "what does your question have to do with reality" and "your question is idiotic."

What Tom, no, liar liar pants on fire defence? I would think the Pullitzer prize winners handbook might have some handy, at the ready, responses for its winners to shell out when caught up in their own fog of bullshit. I'm sure that handbook might have the old, trodden yet very useful 6 year olds in a schoolyard version of "No, it's not a ponzi scheme! stamped it, can't erase it, black magic".

I thought for sure one of those would be your next line as you'd have won us all over for sure most especially my type with a room temp IQ.

I'm gonna let you in on something Mr. Friedman..... something is most definitely idiotic here but it sure isn't Rick Santelli or his question.

Hint.... a mirror may help you figure out what or who it is.

Nothing surprises this blogger. The bullshit is endless.
I am shocked Steve Liesman or his fellow CNBC boobs and boobs in chairs anchors didn't come rushing to Friedmans defence with "Rick, how dare you talk to a Pullitzer prize winning journalist that way."

Watch the entire clip which runs about a minute and a half. You might actually start to feel sorry for the poor boob Friedman, for about 3 seconds then you'll remember how his ilk of pompous know it alls who have run this great nation and so many others into this ditch bark and clamor for us to listen to their new and improved remedies. Too funny where it not all so tragically sad and depressing.




video

Wednesday, September 14, 2011

A Look at UUP

Below is a weekly view of the Powershares US dollar bull ticker UUP

A closer daily view shows some very interesting developments.

Getting Long the Dollar.... Again!

Regular readers know I have been bullish of the US dollar. This has not changed despite getting stopped out of long positions in it previously. For those unaware, the easiest way for most to watch or trade the dollar is the Powershares US dollar index, Bull ticker UUP or Bear ticker UDN.

I have been watching the dollar quite closely and the dollar seems to have made a turn of some significance. The UUP gapped up on Sept 6, quickly consolidated and then gapped up again on Sept 9. The 2nd gap, besides taking out the last reactionary high (21.98) prior to the May bottom and now taking out the May 23rd high of 21.86 is now open 3 days making me comfortable getting long the UUP here at $21.86

Chart will be up shortly



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 @ $96.70
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 @ $98.25
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 Powershares US dollar Bull ticker UUP @ $21.96 stop @ $21.17

Monday, September 5, 2011

Risk On, Risk Off For Dummies

If you listen to the propaganda network CNBC like I do, (you have to so you can know what the financial terrorists are doing and thinking and yes CNBC is the financial terrorist's media outlet) you may have often heard anchor Bob 'market's off its lows' Pisani utter the phrase "risk on" or "risk off". I thought it time to define this for the record. I use the title humorously as regular readers know who the 'dummy' is around here!

Now to understand this phrase you need to use your imagination for a moment. Imagine your real world non-ritalined, sober, completely normal hyperactive and energetic 6 year old son has make believe credentials, say like an MBA from an Ivy league school - which basically qualifies him to drive a bus, no check that, that's an insult to bus drivers the world over as they have training and qualifications- and is managing, no check that, deploying a few odd hundred millions or even a billion of other people's money.

So now that this make believe 6 year old has that Ivy league MBA that the we judge a book by its cover crowd covets which includes but is not limited to;
a) those institutional investors who like to have someone to blame for not being able to spell due diligence let alone do it themselves or
b) those who inherited money or like to brag about said MBA son at the country club,
c) other like minded MBA's who manage others money

Okay now next step.

Imagine this 6 year old wiz kid money manager who bought you all those internet stocks recommended by Merrill's Henry 'please don't read my emails' Blodget. Those 'pieces of shit', his words not mine, that had $12, 15 or 25 million in gross sales and market caps of 1 billion plus brought public by pay to play thugs like Frank Quattrone and his ilk on Wall St. (see now why I used the word deploy instead of manage?)

Well all that seasoning and Wall St. trenches experience is now saved up and blossoming as we have our 2nd Fed induced bubble the housing/free money bubble which sadly yes your 6 yr old son was loaded up on Countrywide, Washington Mutual, and Lenard. Not to mention Fannie, Freddie, Lehman and so on.

Wow I am digressing here. What was I talking about again? Oh yeah, risk on, risk off.

Your real world son wants cake and ice cream, he wants chocolate chip cookies and licorice, he wants popcorn and soda, he wants gummy bears and sour patch kids, he wants video games and to stay up late. When he gets these things he behaves, is happy and content resulting in a pleasant environment.

Your make believe Ivy league MBA toting, fund managing 6 year old has his wants as well. Most especially when things go off the rails with his portfolio. When that happens he wants TARP bailouts and quantitative easing. He wants easy credit and low interest rates in perpetuity from the Fed. He wants an accommodate Keynesian Fed. He wants debt ceiling raises ad infinitum. When he gets what he wants or thinks he might he celebrates and buys stocks, stock futures and anything else he can thinking he can manipulate the adults in the room for more, hence risk on.


Your real world son never wants fruit and vegetables, he needs bran and fiber, he needs water and homemade soup, he needs carbs and protein, he needs exercise and less TV, he needs to go to bed early to rest. When he gets these things he misbehaves, is very unruly and discontent resulting in screaming and tantrum throwing.

Your make believe Ivy league MBA toting, fund managing 6 year old has his dislikes as well. Most especially (again) when things go off the rails with his portfolio. When that happens he is petrified of fiscal austerity and largess cutbacks, (most especially of Ron Paul types) is horrified of hawkish Fed pronouncements, tight credit conditions and higher interest rates from the Fed. He loathes a restrictive Austrian school Fed. He abhors debt ceilings in any shape or form. When he gets any of these or thinks he might he sulks, pouts and sells stocks, stock futures and anything else he can thinking he can manipulate the adults in the room for less, hence risk off.

I hope this helps the next time Bob 'markets off its lows' Pisani or any other boob on CNBC comes on harping about risk on, risk off.

Please enjoy whats left of the Labor Day weekend and if you're travelling please arrive safely.
HD

Friday, September 2, 2011

Pennants Morph Into Flags - Technically Speaking

Quite a few have been calling the recent chart formations on many of the indices a pennant. On Monday August 29th the indices not only busted out of the pennant formation but did so with a gap, across the board. The 29th, coincidently, was the day I was stopped out of my MasterCard short but whose counting?

How many traders bought that group consensus breakout that lasted what 3 whole days included the break out day. Either way the pennant seems to have morphed into a text book looking bear flag. But who trusts anything in this market any more?

You can see it here on the S&P Spiders ticker SPY below

and on the Dow tracking stock the diamonds ticker DIA.

and on the Nasdaq tracking stock the Q's ticker QQQ below. Note how the prior 2 major lows were violated. Then rallied back above, only to break back to a new low, only to then rally back above not only those prior 2 major lows but above the recent reaction high. Still wonder why they call these markets broken?

and on the Russell 2K tracing stock ticker IWM

and on the midcap spiders ticker MDY



The bulls should hope that this is wrong and these are not bear flags given the targets implied by the length of the pole take out the mid 2010 lows (re:support) for each of them. But don't ask me, lets ask a Ivy league MBA toting Wall St. shill whose employment bonus and trophy wife hinges on being bullish of stocks.


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 @ $96.70
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 @ $98.25
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