Unbuyable Dip

You can’t go long here, no matter how tempting it is, if you’re interested in low-risk set ups. Who knows what’s in store for us jerks on Monday? Perhaps we will be treated to a Chinese default or worse: ARGENTINEAN DEVALUATION.

I have my positions and they’re all being slaughtered today, in a very non-orderly fashion. I have my screens set up to isolate high growth stocks on sale, so that I might parlay some of my cash into these ideas in the not-so-distant future.

Tomorrow, I am off to Broadway, with the family to see a play. Next week I will be visited by some general contractors who will make a mess out of my house, then take some of my money. Life, as I know it, marches on.

Don’t be surprised to see BALT trade back down to the low $4’s. God damn it, Capesize rates are $10,000 per day and no one in their right mind can be optimistic about the bulkers now. However, truth be told, an executive at GNK did warn me of Q1 “volatility”, and said so with a very ominous tone. I didn’t take him seriously, and chalked his opinion up to another “know nothing seaman” with ships up his ass and bankers at his door. Nevertheless, they’re adamant about Chinese growth, so it’ll be interesting to see if the news out of China gets better.

In short, it’s tempting to nibble here, considering I am getting slapped around in my longs and have some cash to put to work. But, I’d rather wait for a higher probability entry point.