The name (China Mobile) is being viewed upon as a black-footed albatross in the investment community. It is widely believed that the new telecom shakeup in China will hurt [[CHL]]. With a market cap close to 300 billion, there is significant downside to share price of CHL.
My chart guy is busy drawing squiggly lines on graph paper. He told me: “it’s going down the shit box, from here.”
This fits my short position thesis; so I though it made sense to pass it along to you.
If you enjoy the content at iBankCoin, please follow us on Twitter
Thanks Fly. Got in yesterday. Hat tip to your chart guy.
Memo to the PPT, This assymetrical buying of the q’s and the diamonds must be coordinated better. Anyappearance of disruptive behaviour will not be well tolerated by the public.
If I werent against dip buying, I’d buy DRYS here. But I wont.
fly please explain: why not short the FXI?
The performance is as bad as CHL and you are more diversified.
Fly
Thanks again for the heads up here. Who knows, the Working Man may be able to afford a new hammer.
I’m guessing the heat in NYC has kept that gay giraffe in the ice cream truck — wishing him the best, tough way to make a living. Not to mention the obvious disadvantages of being a giraffe, and gay, and probably developing some sort of glue sniffing addiction — typical of that type. Still can’t shake how funny that image is.
DRYS does look interesting.
Nik:
FXP is my largest holding.
if it breaks below $65 (possibly this week) on volume then look out below… we could see $40 in a heartbeat.
CNBC-Ask those pro ethanol people if they are willing to lift the import tariff on sugar based ethanol from Brazil so that costs are lowered. That’s what I thought.
DRYS…maybe $78-80
How about DIA 100 -105 LOL
The jap is now flattening out. Perhaps a couple of manufacturers closed that we do not know about, so the Imperial War College is happy for now. The upward pressue on the tape should now let off, although I have not decided whether to hold positions or not. The MOS short has been very very bad. I will wait to se the end of the day to close position. Ditto crm.
You have revealed only 2K shares short CHL. Are you increasing your position? Seems like a small position for you.
I do not post all of my trades.
Norcal — pay attention, he’s also short it via FXP.
Which brings the query — why double up?
Which brings this anecdote:
One time while I was working for the ibanking division of a large retail firm that shall remain nameless I received an inquiry from one of the firm’s largest retail brokers.
This was during the dot-bomb era (pre-“bomb”), and this guy had a whale client — a professional hockey player to be more descriptive — who owned a shitload, and I mean a ton, of this one highly volatile radioactive dot bomb that had gone up 1,000% in three weeks or something nutty like that. This broker tells me that his client called him to see how he could get MORE shares of a SPIN-OFF that this dot-bomb was throwing off itself in a dividend/IPO arrangement.
I say to the broker, “But he’s already GOT a shit-load of the spin-off, because they’re printing one for one on the shares of the parent company.”
He responds, “No, no, he wants MORE, he thinks the spin-off is gonna be worth triple the original.”
I admonished the broker (I could, because we weren’t underwriting the deal, so I couldn’t get him the shares anyway, heh) “What the fuck, man? Do you think you might have a little bit of fidciary duty to your client, here? I mean, he’s already got $9 mm of the parent for crap’s sake??”
The broker didn’t miss a beat, “Oh shit, he’ll make that in next year’s contract, this is like a game to him.”
No joke, the player was a biggee, but geez, how long do hockey players’ careers last? In any case, I’m not sure if the player ever got the extra shares he wanted, but I do now the stock he owned went to absolute zero, and the spin-off blew up too. I sure hope he got a new broker. Or at least a CD down at the local savings & loan.
Moral of the story: A monster broker’s large brook is not always the sign of a good asset manager. Eschew assets (to some degree) for process everytime.