The market was on edge this week, ahead of the ever important JACKSON HOLE. Will the Fed go for another round of QE3 and help 0bama get reelected? Or, will the Fed acknowledge the fact that they have little control over the employment problems in this country and allow the politicians to sort it out for themselves? It’s all too convenient for the cocksuckers in congress to point fingers at Ben and blame him for everything. It might be time for Mr. Princeton to show everyone who’s boss by not doing anything.
Congress talks shit about Ben; but they are eternally grateful to him, in private, for keeping this economy going, albeit by artificial means. The moment the Fed steps away from the economy, all eyes will be on the political apparatus. My guess, people will not like what they see.
I added to my NFLX position. I’m not sure why, actually. It is my largest position and I don’t have a lot of conviction in the name. I will keep it on a very tight leash. In addition, I bought some MCK. My senses suggest drugs and healthcare will be the preferred sectors to own–heading into the elections and the months of September and October. I am in MCK for the $100 roll.
Lastly, I have a big ole stupid sized position in HDGE. As you can see, it is hardly down today, despite the market being +100. It is an actively managed short ETF, with zero leverage. Their largest shorts are C and DB, both excessively rich in valuation–in my humble opinion. It is a hedge, designed to offer protection against spiraling lower equity prices. If it doesn’t pan out in a week or so, I will sell it and move on.
The rest of my assets are in cash, constituting about 35% of assets.
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I’m not wasting my vote on Obombney. I’m writing in Benjamin Bernanke.
Me neither but for the market’s sake (and my wallet) I hope he gets re-elected (no birth certificate).
LOL.
I remember at the Gentlemen’s Dinner this year how it ran around the table in gentle chuckling fashion how some of us (very few) had voted for the Farthest Leftist President in the History of the U.S., but luckily, none of us were stupid enough to make that mistake again.
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I often wonder what goes through the true blue Kool Aiders’ heads?
Do they really think the country is better off with this amatuer hour at the wheel?
Would they really rather choose Bane over Bain Capital?
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You seem to forget that the Prez is just a leader. He doesn’t pass budgets and approve spending or policy. But you always remember who holds that responsibility when the slings and arrows are aimed at the GOP … LOL
You’re right, the President is “just a leader.”
A leader who had the full Congress on his team for the first years of his Presidency.
“Just a leader” who announced that he was “driving the bus” and the other side had to take a back seat.
“Just a leader” who could have called any tune during his whole first two years and instead of concentrating on improving the economy, decided his time was better off re-funding cronies, trying to eliminate confidential voting in union shops, trying to an impose an egregiously expensive “cap and trade” carbon taxing system on the U.S. economy, and, oh yeah — successfully jamming a destructive socialist healthcare system down the throats of an America that had no interest.
And that “just a leader?” He let Nancy Pelosi take charge of that last bit of “leadership” he enjoyed in his first two “scot free” years.
Some “leader.”
You vote for him again, though, Kool-Aid on the tracks. What me worry, right?
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http://climatecrocks.com/2012/04/04/cap-and-trade-one-great-republican-idea/
Teahouse, I don’t know what you are thinking of, trying to bring facts into a political “discussion”– i.e. a tribal fight to the death.
If someone mugs you, do U stand there & explain to them rationally why they shouldn’t? Politics is tribal conflict. LIke sports. Are you going to convince someone that their home town team is not superior to all others, and that their competitors are worthy human beings deserving of respect? Not a chance.
Sticking with my thesis that
this market is behaving EXACTLY like June’s post-expiration market,
I sold my SPY calls at 3:55 and bought TZA Aug 31 calls, and FAZ,
I have NAILED this market this week, and I look for a big DOWNER on Monday.
Glad to hear.
Rigged Game forgets that Romney gives Hope for Change on Monday.
That’s the only reason I wouldn’t short this market… otherwise, I’m witcha.
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Hurricane Isaac has changed that. Take it as a sign.
I think futures will be up to flat am so I put on an XIV hedge. But I think we move lower through the week
Sell the news baby
‘They’ are not allowing normal market corrections. Why are hedge funds giving up? Not ‘conspiratorial’.
Ridiculous
with the qqq going along with aapl to new highs AH ?
mmmmmmmmmmm
I can see why you would trade NFLX for the squeeze against the 15MA but holy shit they are getting out muscled in the US for content
I’m looking forward to seeing Bernake, come flying, on his black steed, knighted and armed, to save this foul land.
Your boy Bleier put the healthcare sector on blast recently. I concurred and added SNY to my port.
watch out for that $4 per share special divy coming on WCRX. Ex date next week.
I can’t find anything to buy or sell….which is extraordinarily unusual for me.
just sitting in cash waiting….
Hope you didn’t get rid of your gold and silver… at least until late this week.
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thanks to all who post here. im faclemt , i have issac knocking on the door. im gonna pretend im not home. they hype these storms to no end here, but it might be right this time.during wilma we got through the storm ok, but the surge was devastating. i was knee deep, but friends of mine had 4+ft of ocean to deal with
Wow dude stay safe!
Best wishes for no damages.
You live in Florida? On a boat? Where? Just curious.
jtu, i live in da keys. i have a concrete home , im 8ft above sea level. so the surge is what can get me. i have pulled all but 1 boat out of the water, so its likey i will spend much time on that boat before the storm.. thanks for your concern.
Dude – be safe
He cannot do anything about the surge. But one good thing is when it is time for it to dissipate, it will be gone quickly. The ocean has enormous liquidity and will absorb the surge, and return to equilibrium very soon afterwards.
Lol
Bad Ass!!! $AAPL wins!
Not sure the upside, but at least avoided a cheap excuse/reason to sell off…
Margarita time!
http://www.youtube.com/watch?v=0pSlu2okpqM
Something that blends well with
Top hat, White gloves and Dr. Fly…… http://tinyurl.com/9rha9fz
Aapl wins again. I stick with them
Time to buy that Galaxy Tab
Got a Galaxy 3. So far so good.
Have Rays-Yankees tickets for my wife and I so as long as the hurricane/TS and the Repubs are gone by Labor Day it will be all good.
If they are gone after Election Day it will be better.
Well apparently, we`ve been in Jackson`s Hole on several ocassions.
LOL!
BREAKING NEWS!!!!! just in Obama controls weather, wipes out repbulican party
He’s got señor bush’s weather machine!
“cocksuckers in congress” -Don’t forget the White House!
it isnt enough that i have to worry about wind and rain. they not say watch out for squallls! funny i didnt think there were any indians left here?
We wish for only squalls here in New Smyrna Beach where talk is of high tornado potential.
trade idea ,short insurance carriers here.
Question, I have an 8 hour layover at JFK airport tomorrow. I’ve never been to New York, any recommendations of what to do for a half day?
merica, Go to ground zero and the stock market. Then the village and then 42td st. if you have time. Have fun!
If I only had a few hours I would utilize the JFK Air Train and take it to Penn Station via the Long Island RR – follow the directions below.
Then hop on the subway (get the info ahead of time) and like Catbbots said go to Ground Zero then back on subway and head to Central Park, walk around 5th Ave. and just keep walking with the mobs. Find a good NY deli to eat at and then keep walking.
Then back to JFK via Air Train (read how to get back via subway on the website).
WARNING- I don’t live there but visit my daughter in Manhattan from time to time.
http://www.panynj.gov/airports/jfk-airtrain.html
Thought about it some more- cut out some of the walking and take a quick peek at the Statue of Liberty (across the water), Wall Street while in Ground Zero area and get to China Town and next door Little Italy for a look see and some eats (either in China Town-(watch your wallet) or Little Italy). Then back to JFK.
Awesome, thanks for the suggestions guys. After that we’re heading to Italy/Greece – honeymoon trip. I’m pretty excited about NYC lol, then again I am from Wisconsin.
That’s wonderful about the honeymoon trip. Be sure to travel safe, and enjoy the experience.
Tea house spewing his climate Dumbocrat sheet! Republicans suck too! Tea party rules!
Pimp slapping bears this week like I’m John fuggin Wayne. Cold winter coming…get your free bear boots, I’m so short Napolean licks my bald spot.
@fly what a lovely video/ travelogue.. do you know the city? vienna? prague? budapest?
i assume the peaceful nature of the music and pictures fits your market postion right now.