Truly, I enjoy throwing people down elevator shafts and knocking mustaches off the ugly. Yesterday’s news of free money made me ebullient with ravenous barbarity. I envisioned a market place littered with the corpses of overzealous shorts, strewn across the globe in size order. Sadly, this did not come to fruition.
In Spain, the IBEX was up 5.9% on open, but closed down 0.65%, dreadfully anti-climatic. As a whole, Europe tanked into their respective closes, leaving us alone in the wilderness with ferocious bears, keen on eating the flesh of the living.
Despite what my position is, as steward of iBC, you can rely upon me to give you an honest assessment and disseminate news, bullish or bearish, in both a timely and honorable fashion. Although it chagrins me to lose money on a day I thought might lead to outright celebration at The Offices del Fly, it is what it is. At this moment in time, I am quieted by the fiends outside my gates. Basic material stocks are being dismantled, partly thanks to the Goldman downgrade of AKS.
Have a look.
My only silver lining is APPL, up on a relatively abysmal day.
I am down 2.3% for the day, as you read this, up about 7% for the year aka “better than most.” In sterling fashion, I recaptured 12% of my AUM last week alone, making today’s decline very acceptable and almost par for the course.
While the vagabonds and the weavers of finance figure out the next move in a seemingly endless game of death-match chess, “The Fly” will wait for his destiny to unravel, live, for all the world to see.
http://www.youtube.com/watch?v=iEFbuXuShOE
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