iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,445 Blog Posts

Hedge More

I bought a few blocks of FAZ ahead of tomorrow’s FAZtarded employment data. It’s not like I give a fuck about the numbers. However, if they are SD-like horrific, the market will fall 300, no more, no less. With the sale of SD, my cash position is back above 40%. I will likely leave it around these levels, until I get back from my La Jolla trip in late August. As I get older, my appetite for risk is abating. Plus anyway, with stocks like SD publicly traded, I’m better off parking my cash in money markets.

Did you know U.S. money market funds have nearly doubled their exposure to European debt? How quaint.

I understand, from an inside source of mine, the engineers at SD are all she-males, each and every one of them. On Halloween, Sandridge is represented quite extravagantly in NYC’s “village Halloween parade” aka “Gay-Day.”

Back to business:

I am hoping for the market to pullback in a significant way, so that I could allocate some cash. If it doesn’t, I guess I will have to accept the fact the Jakegint was right and I was wrong, sort of like that GMCR versus GLD battle, but in reverse.

NOTE: I added to my SWN position.

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41 comments

  1. Keoki

    They call them girly-boys in california

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  2. Bullish

    Risk appetite abating? I thought you were 34, not 64.

    Maybe you should just go with one of those target dated mutual funds… just kidding

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  3. Woodshedder

    Feeling a green close.

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  4. Dayman

    You need to go old testament on those fuckers at SD and turn them into pillars salt and shit.

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  5. The_Real_Hmmm

    The Monster Jobs Report and Initial Claims reports came in weaker than expected which should seal a bad number for tomorrow I think. Chain store sales were also weak due to the heat waves affecting back-to-school retail. It may be worth it to hedge with some apparel stocks that have issued guidance to the lower end going forward like BONT, HOTT, AEO, TJX, etc.

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  6. TA

    I’m out of SD earlier this morning as well, my patience on that POS ran out.
    I had short put premium to cushion the blow and it was only a small position but it’s still annoying.

    On the plus side, LVS continues to pay off and I’ve rolled up and out on the short worthless puts I closed for a nice gain. Opened a 1/2 in PCX as well but won’t be adding to it.

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  7. xxxHuggieBearxxx
    xxxHuggieBearxxx

    I am hedged

    made .25% yesterday

    made .25% today

    didn’t change anything….go figure.

    Slow and steady. I’m waiting for one of two things:

    The market to test 1200 so i can short the bananas out of it

    OR

    I’ll start nibbling at 1050 and buy in down to 1000

    and I may play some hybrid swings

    otherwise, fuckit, this is a bad market

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  8. Bullish

    Here’s my prediction for Friday:
    The market will probably open around 9:30 am and I’m thinking it’s gonna close around 4:00

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  9. Soylent Braveflaps
    Soylent Braveflaps

    Almost 41 million Americans on food stamps.

    For shame – but delicious…

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  10. StocksRider

    Latest post – why could tomorrow’s payrolls beat expectations – http://www.ibankcoin.com/peanut_gallery/index.php/2010/08/05/why-could-tomorrows-payrolls-beat-expectations/

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  11. Cali Man

    Fly, what are you going to La Jolla for? Work or Biz?

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    • The Fly

      for fun

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      • Cali Man

        You staying at La Valencia? Nice spot

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      • Apocalypse Now

        Remember out here, SD stands for San Diego which is a little slice of heaven and the opposite of the ticker.

        I am in La Jolla all the time, you should go to this place: http://cupslj.com/ for all organic cup cakes and coffee, red velvet is the best cupcake.

        This is a great restaurant: in La Jolla as well that isn’t too stuffy: http://whisknladle.com/home/info/

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        • Cali Man

          Whisknladle is great, fresh local food and a laid back atmosphere

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          • TraderCaddy

            And don’t forget to play golf at Torrey Pines.
            Maybe you can get a game with Phil Mickelson.

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      • The_Real_Hmmm

        Coronado Island is a nice place to walk around and enjoy. Hotel del Coronado is a good spot and if you want to be Adm. FLY, take the family on a sailboat under the San Diego-Coronado bridge. When I was younger I was sure my Father was going to capsize the boat when we were like 45 degrees to the plane of the water. That shit impressed the hell out of me.

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  12. Kitty Galore

    CAT still bulldozin…

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  13. JakeGint

    Jake and GLD won that one too.

    All about the time frames.

    __

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  14. Suck my fat dick
    Suck my fat dick

    Fly, what are your thoughts on this supposed mortgage bailout potentially showing up in August? Think that news gets sold, or do we get a moonshot in the indices out of it?

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  15. ruggyup

    Abating risk appetite and California do not appear compatible. On the other hand, La Jolla may not be regarded as California in FIG circles.

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  16. dave

    RJET….that’s right…RJET

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  17. Dayman

    Fly,

    Instead of SD, what do you think of some of the small nat gas MLP’s like XTEX, EROC, BBEP, APL etc.. Seems like there are some good values there and they are all within a couple quarters of bringing back their distribution.

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  18. Purdy

    Good time to sell AGU et al …all the late-to-the-ag/chem party folks are coming out of the woodwork. Does anyone read the news? …or do you just listen to Bloomberg?

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  19. ibankfazmobile

    FAZ LOLZ

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  20. phenom

    how do i find REAL TIME trades on the PPT????

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  21. shaz

    Interesting what Google’s search trends say about July unemployment

    http://www.google.com/finance?q=GOOGLEINDEX_US:UNEMPL

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  22. Russian Saylor

    falling in love with stock again… SWN.. WTF you want this piece on natty shit… SD was not enough for you….
    widowmakers baby will rip you apart… I hope you got it in someone also accounts, cause i would not buy it with your money.
    PS . taking position in stock just cause it’s cheap is silly, good sir.

    no comment on FAZ tarded trade… cause i know you like THE PAIN.

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    • The oracle

      Hey dumbfucks! Go get a life! There are times to eat, fuck, vacation, work, or do nothing. Stop turning your wheels and go fuck and party. The market will give you much better opps this fall. Go live a little. You may actually enjoy it more than your computer screen.

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