Woops!

So I’m sitting there yesterday, enjoying the well timed sales of 3/4 of my TZA & SKF, when I get the urge to hop back in. I purchased 66% of what I sold, effectively 50% of full position size. Fuck.

This morning at S&P 1274, I added the final quarter. Whether we sustain this bull response or not, I suspect we at least rest here. Either way, these positions are rather inconsequential thanks to a >60% cash position.

I gave warnings to bears similar to Le Fly’s, that the time bomb might have some time left on it. Or, the EFSF or ECB or Fed or whoever could het rewind the buzzer.

Nonetheless, the economy will not maintain >$97 eps into 2012. And I must ask why everyone is throwing a party because Greek debt problems are “solved” and the rescue fund will be LEVERAGED to a trilly. Do you understand the word leveraged?!?!?

And it’s just Greece! Do me a favor, take a look at Italian and Spanish yields.

And what of the moral hazard created by this deal?

As I answer these questions more conclusively, I will let you know. Until then, I remain disenfranchised, unable to consistently game these markets. I also remain dubious of this “solution.”

Trade em well.