Full disclosure, I never wanted markets to go down, but it was bound to happen. After all, rejection of a rally predicated upon crude trading higher isn’t a rally at all. The best tell, as far as I’m concerned, was the Apple warning.
But here we are, with markets getting slammed, as predicted almost to the precise day by yours truly. But you don’t see me bragging or comporting myself in a way that could be misconstrued as being a ‘poor winner.’
No.
Instead, you see me here, handling my effervescent victories with grace and the type of panache you’d expect from a space alien magician (SAM).
Markets are plunging.
Italy is getting meat ball’d because they have the worst banks.
Commodity stocks have rolled over and have begun to die.
Not even our dearly beloved Dow with all of its Caterpillar shares could withstand the barrage of sell orders.
The ark floats.
I mounted SAM turrets onto the Ark last week. Working nicely
it was a nice reprieve while it lasted…it’s a twilight zone kinda market, seemingly range-bound forever….and aapl is higher today – go figure
Let it Ride – don’t let me down, senor.
AAPL is up because people are bailing it out desperately.
Look at a 5-yr chart and spot the obvious support it’s at. A break below $90, next stop $75. The overall market will have trouble with that kind of drop. I bought a long strangle, assuming AAPL won’t stay at this level or close to it for much longer
Sup brahh,
Ytd return??!?
I am hoping one of two scenarios plays out.
1) An orderly decline that ends with a jackhammering 4-5% drop.
2) A repeat of last August sans the option illiquidity. Maybe a nice 2011 repeat.
VRX up. WTF?
Moody’s affirmed some Valeant bonds, and upgraded some others
Extra Greg Solomon
https://www.youtube.com/watch?v=xj9_I2Yr3L8