I have so much cash right now, my arms involuntarily punch people in the face when walking down the street. I was going to deploy cash today because, traditionally, this is the time to go long, following a steep decline on nebulous news. However, upon further review, I am out of my fucking mind.
Congress is voting on the debt ceiling deal tonight? PFFFFFFFFFFFFFFFFFFFFFFFFF
There is no fucking way I am betting on those dogs. If you are buying stocks today, you are betting on Congress. Are you willing to do that? Well, are you?
I didn’t think so.
I have DECK going into earnings today and I still own BPFH, GSVC and some VXX puts, alongside other small positions. But I’m not buying today, or shorting.
Trade accordingly.
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I won’t bet on congress but I would bet on you wiseguy, is DECK a keeper thru earnings?
Atta Fly!
Perhaps you would like to look at the moves of August 2005 and that of 2010 and several years past which will help reveal what the heck this market will do? Indeed…..cash in the mattress!
still holdin xiv?
yes
I agree. This reminds me of the Reinvestment/Stimulus Act in early ’09. I watched the floor on c-span for the last motherfucker to mosey on over to cast their vote. I was mostly cash but put on some small positions that got immediately killed. Thanks to mostly being in cash though, I was able to catch the bottom. Here’s how it did play out:
February 10, 2009: Bill passed by the Senate.
Dow drops 5% from day of passage to February 17.
February 17, 2009: Signed into law by Obama.
Dow drops ~18%(!) more until March 6, 2009, aka The Devil’s Bottom.
I understand other events transpired during these times which affected the indices but many eyes were watching this particular event making it a significant point from which to make investment decisions.
I can’t count on any of those fools to get it right. I may have gone a bit overboard, but I went 100% cash yesterday at the open and am sitting on my hands today. I may miss the beginning of a jump, but I want to protect recent gains. Last thing I need is those ass-clowns doing something stupid and ruining my birthday weekend!
Hola Ruben.
Growing up in Miami I used to get some good food (flan, Pernil de Cerdeo Asado, Cuban sandwich, etc.) on Calle Ocho.
Any good Cubano food places in Orlando (Rolandos is decent) area (if you know)?
Hola TC! I wish I had some suggestions for you, but I’m actually in Houston (Recently transplanted from Orange County, CA). I have yet to find any good Cuban restaurants in Houston, but my wife is a good cook, so I can’t complain. Good luck!
I’m with you…100% cash into the close yesterday and not planning to make any trades today…
Brinksmanship is business as usual in D.C.
Furthermore, if this bill passes the House (I’m assuming it’s the Boehner bill), it can’t pass the Senate without a lot more arm-twisting. In order for it to pass, the House has to find something to buy off at least one Democrat and two “Independent”s, without cheezing off any of the remaining “yes” votes in the Senate. That means more grandstanding and horse-trading to be had.
Much like the TARP and stimulus bills, I worry that these asshats really believe they have sufficient time to let at least one bill fail so they can stuff the second one with more goodies for themselves.
if they cut spending too much the mkt goes down, if they dont cut enough the mkt goes down,
I’m with you regarding trade activity prior to Congress vote, but I may sell a JNPR put spread at these levels. I noticed you don’t ever trades spreads or sell directional Options. Why do you stay away from them?
K.I.S.S. about options
Nah, keep it high on probability of success, smart on strategy, defined on risk, and get the most for your capital risk. Buying Calls & Puts increases your potential gain, but it utilizes more capital, and probability of success is lower than when using Vertical Spreads.
AFL into earnings = my winning today.
This is for even a skeptic like you Fly.
The best pre-Nascar race prayer to date where he thanks the Lord for his “smokin’ hot wife” and boogity, boogity,boogity, Amen.
http://youtu.be/0E8EYTyACQk
This was way too funny thanks makes me want to go to church
Naaaa
I thought so, too.
I changed my religion and joined his Church.
Boogity, Boogity Boogity, Amen.
After seeing a pic of this preacher’s ‘smokin hot’ wife, you may question your dedication.
http://ology.com/sports/watch-preacher-gives-best-prayer-ever-nascar-race
I herein and to wit immediately withdraw from his Church.
Although I suspect Steve The Neighbor might invite him to Steve Jr’s Bar Mitzvah and give one of those prayers.
IYM for small starter
I like your thinking.
also sitting on 50d
Let ask… It’s pretty rare the party big wigs don’t know the votes beforehand. It happens of course but I think the fix would be in on balance and there’s no reason to go to a vote unless there were the numbers.
they’ll get a few dem votes to compensate for the GOP’ers that cross the floor.
Who gives a shit about a “plan”. We need a Debt Ceiling increase of
2 or 3 trillion RIGHT NOW. A CLEAN bill, or via the 14th Amendment.
This “budget” and “revenue” horseshit (which is non-binding anyway) should be done
in the proper way at the PROPER TIME. It has nothing to do with the Debt Ceiling.
Great way to destroy the bond market, at least.
______
Yea… Just give the pres the debt ceiling and we’re off the the races again. No spending cuts… that shit can be just borrowed anyway or printed. Who ever said the US has a debt problem and whoever said president Odumbo didn’t care?
clearly this sounds like the better play sir.
Giddyup !
http://youtu.be/sXoYK4b_q24
I have shaved my nuts and delicately placed them on a chopping block made of African Blackwood. While the wife is off at work I have placed 65% of my small savings (intended for our house down payment) in XIV. Unbeknownst to her I am also going golfing with her father while enjoying a few cold ones.
Hopefully I will return to find testicles still attached.
Best of luck to all.
almost sounds like a scene from boiler room !!!
While you were busy shaving the peach fuzz off your man bag, your wife was off getting her own version of African Black Wood. Her dad is in on the whole thing. She pays him to ask you to go golfing so she and her black wood can have some time alone without worrying about you walking in while they are at it.