I will keep this short.
Because the EU chose to cut by 25bps, instead of 50, the dollar is getting “mushroom clouded.” Sadly, this is exactly what our policy makers want—inflation.
Because of this development, I changed my mind on oil and commodities and want to be long via ERX.
There should be a follow through tomorrow, in the commodity sector, considering the dollar is being clown raped to the tune of 1.7% today.
If you enjoy the content at iBankCoin, please follow us on Twitter
WTI
As a corollary? Interesting action in bonds too. I thought Bennie and the Inkjets were gonna drive ’em to the mooon?! Out of ink? Losing his nerve? Round ii coming up? Time to throw cold water on this machine?? Stay tuned.
Does the mushroom cloudage ruin your thesis for TLT?
Sell some $80 SKF april puts for $7 a pop.
Get short names likes ZION STI COF VNO SPG BXP here. Be prepared to double up on above shorts if they move another 10-15% north. Use money from short sales to free up more liquidity allowing the opportunity to pounce on FAZ SKF SRS once the market turns.
Juice
Temporarily.
$USD index = 50 Handle in Due Time,,,,Indeud!!
JUst below 50ma..if willbuy it if it breaks above it
Silver now slightly positive.
Hey Fly. Since the next meeting of the world mucky mucks will be in NYC this Fall should we board our houses and take a vacation.
Wanna go to the water park?
jpm down……why? anyone? trouble? FAZ?
bought more FAZ.
Long oil/short banks.
Shit, just call me “too clever by half” I guess.
I had a crapload of loner out SLW calls, so like “Mr. Moto with his Abacus” I decided to get clever and SELL the April calls against half the position, thinking “it’s GOT to fill the gap at $7.20… it ALWAYS does!”
Too freaking clever by HALF! FAAAAAAAAAAAAHHHK!
(don’t worry sibling readers, I only did this in my own acct)
_____________
Senor Fly:
How does this impact TLT? ( never mind, saw your response above)
Note that WFC has withered from up 12% to 3% as have many other financials. Watch out here for fuckery.
Jimmy Morgan had a gap to fiiiilll,
A gaaaahaap to fill,
A gaaahaap to fill,
Jimmy Morgan had a gap to fill,
So don’t slap my grill, if I stand still…
— “Jimmy Morgan had a Gap” by Edwin LeFevre, (c. 1929)
___________
“Long oil/short banks”
Hehehe That old chestnut. Should work.
Jake too clever by 0.5 – yeah SLW fighting hard today. Now I’m just waiting for my other miner position, AUY, to taste of this action.
Sell Jimmy Morgan at $31, but not before.
__________
Note that WFC has withered from up 12% to 3% as have many other financials. Watch out here for fuckery.
Indued.
As a bear, you are probably very familiar with the “bearish flag/wedge” formation.
FAZ — Exhibit A.
Caution, my friend.
_________
Fly- I want to set up a lemonade stand in front of the house for the G-20 meeting in the fall.
Do you know if it is against the homeowners association rules?
Also I want to sell band aids to the protestors.
Wanna go halvsies with me?
50-50.
VIX turns positive
Put to call ratio still high. Bears are still alive although wounded
Fly, It’s the same concept as getting the banks to lend to people who can’t pay it back. If you light a fire under their asses with inflation, they will magically have money and go out and spend like a mother fucker and stopped saving because they’re going to be scared of losing their hard earned dollars to devaluation. It never occurred to these numb skulls that the fuckers aren’t going to spend, they’re just going to shit their britches once again.
MS getting hit. Loving my shorts from earlier today
T MOE shorts COF
Fly- I found a blue radio in your trash this morning.
Can I have it?
Disappointing analysis fly. The ecb cutting by just 25 bp was similar to their RATE HIKE last July – a shocking bit of cluelessness. The ECB again will have to play catchup and fast … Shorting the Euro from 134.59 If you want to have some fun, check out a chart of the Euro following the ECB’s July rate hike.
I would say something about the US Peso but the last time I did – I got called snide.
It is nice to see the ECB do something sensible.
FXA and FXE are doing nicely.
As usual, Alpha’s pick was righteous. Even if I did disagree with him.
the us rupleso
THATS THE NEW CURRENCY