Clearly, the market doesn’t want to go lower. I am trying to understand how everything changed, all of a sudden. It feels like it was just yesterday when Europe was getting its jaw broken for it and now everyone is elated with the prospects of asinine levels of Italian debt coming due.
Now I could fall victim to my caprices and short everything in sight, like a rabid Chanos. Or, I can simply wait–like a gentleman– for my price to reallocate my 35% cash reserves. I need you to understand something, rather immediately. There is nothing that is going to stop me from banging my African jungle drums this year. I shall have a recourd [sic] year and I will savagely destroy my enemies.
I am stalking a stock, like a homeless man loitering well to do buildings in the upper east side. I am waiting for an opportunity to step in and buy size.
Aside from that, the stock Gods are blessing shares of RBCN, one of my larger positions. I warned you on Friday, the shorts live inside of RBCN. If anyone is interested in assaulting the bears, own RBCN. The pain is going to be abhorrent for them–pardon my first rate usage of the English language–I realize the majority of you barely know how to speak it.
In closing, “The Fly” is moving up and everyone is moving down, by comparison. I am eating a crumpet, with a little olive oil, salt and pepper and washing it down with some loose leaf Earl Grey from TEAvana, light and with a bit of honey.
Good day to you.
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I think what changed was Europe did a stealth TARP via LTRO. Unicredit aside, the financials look much better.
MAKO has been killing it since Jan 1. Another 10% today.
Also, FTK, unreal!
Everything is unfolding just as I indicated it would over the weekend. BY mid-morning tomorrow I will have cried uncle on my short positions, just in time for the late-week europe-driven slaughter of innocents.
lol, because tomorrow is head fake tuesday, first.
What is the opposite of a Midas Touch? Tin? Brass? Formica? I am enjoying that this morning. Hopefully I shall climb the Periodic Table of Elements in the noon. Fuck.
iran sentenced an american to death, said he was a spy. wonder why there isnt more mention of this? his dad says he was visiting his grandmas.
What’s the buzz on Sandridge in New York – they are leasing millions of acres on a new trend claiming they hit the honey pot. And from my due dilegence…it looks real.
When you switch to tea after quitting coffee, the world becomes a different place.
real men drink hot chocolate out of Ivory mugs.
when your dead it doesnt matter
Gold @ $1,900 was 2.2x its early 1980 peak. US GDP,Fed Debt are 5.5x early 1980 levels, S&P 500 is 11½ to 12 x its early 1980 level
Total Credit Market Debt 11½ to 12 x its early 1980 level
“The real bubble has been the issuance of debt that is increasingly stifling any real recovery in the Main Street economy.”
The title of this blog brought this tune to mind … from the album The Party Never Ends …
The Road Goes On Forever
Sherry was a waitress at the only joint in town
She had a reputation as a girl who’d been around
Down Main Street after midnight with a brand new pack of cigs
A fresh one hangin’ from her lips and a beer between her legs
She’d ride down to the river and meet with all her friends
The road goes on forever and the party never ends …
Sonny was a loner he was older than the rest
He was going into the Navy but he couldn’t pass the test
So he hung around town he sold a little pot
The law caught wind of Sonny and one day he got caught
But he was back in business when they set him free again
The road goes on forever and the party never ends …
Sonny’s playin’ 8-ball at the joint where Sherry works
When some drunken outta towner put his hand up Sherry’s skirt
Sonny took his pool cue laid the drunk out on the floor
Stuffed a dollar in her tip jar and walked on out the door
She’s runnin’ right behind him reachin’ for his hand
The road goes on forever and the party never ends …
They jumped into his pickup Sonny jammed her down in gear
Sonny looked at Sherry and said lets get on outta here
The stars were high above them and the moon was in the east
The sun was settin’ on them when they reached Miami Beach
They got a hotel by the water and a quart of Bombay gin
The road goes on forever and the party never ends …
They soon ran out of money but Sonny knew a man
Who knew some Cuban refugees that delt in contraband
Sonny met the Cubans in a house just off the route
With a briefcase full of money and a pistol in his boot
The cards were on the table when the law came bustin’ in
The road goes on forever and the party never ends …
The Cubans grabbed the goodies and Sonny grabbed the Jack
He broke a bathroom window and climbed on out the back
Sherry drove the pickup through the alley on the side
Where a lawman tackled Sonny and was reading him his rights
She stepped into the alley with a single shot .410
The road goes on forever and the party never ends …
They left the lawman lyin’ and they made their getaway
They got back to the motel just before the break of day
Sonny gave her all the money and he blew her a little kiss
If they ask you how this happened say I forced you into this
She watched him as his taillights disappeared around the bend
The road goes on forever and the party never ends …
Its Main Street after midnight just like it was before
21 months later at the local grocery store
Sherry buys a paper and a cold 6-pack of beer
The headlines read that Sonny is goin’ to the chair
She pulls back onto Main Street in her new Mercedes Benz
The road goes on forever and the party never ends !
~ Robert Earl Keen ~
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