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
23,434 Blog Posts

Finis

The Devil did it again, nailing the UNXL trade with Space Alien Magician precision. I didn’t have the stones to buy it; therefore my salutations are somewhat hedged with disdain for not making money on it.

Markets look safe for today, possibly setting up a niche trade for me. I have two ideas, spearheaded by a research report out this morning from an analyst who I respect. I’m sure you’d like to know the names; but you’re gonna have to wait until I am good and ready.

The Japanese carry trade is the driving force of the world now. Borrow Yen and buy Italian or Spanish debt. Why the hell not? The Yen goes lower every-single-day, making the money free!

Now the other side of that trade can disrupt things, no? Say, for example, there is a sudden spike in the Yen, to the tune of 10-15%. Should that happen, whatever these carry-trade bozos are buying will need to be liquidated ASAP. However, things are going swimmingly for now. My reservations on the markets are fueled by my desire for moderation, because I’m already +21% for the year. Plus, I’ve always said, from the 2nd week of January: “we’re going up until tax day.”

If that’s the case, this could be the last up week in the markets for a while–the grande finale. Finis.

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