Lazy Afternoon Glance

I’ve been absolutely swamped all morning, and have only had the last fifteen minutes or so to catch up.

Here’s a jumbled list of thoughts I’ve had:

(1) Why is this market higher?
(2) LOL MGM is up 3.5% right now because they’ve announced they’re expanding in Macau. Meanwhile gambling revenue is stagnating in Vegas (a.k.a. 80% of their operations). Where the fuck do they think they’re going to get the money to build new hotels? Come to think of it, where are they going to get the money to pay off their bondholders?
(3) Brazilian sugar production is fucking soaring. BG is so undervalued right now, it’s disgusting.
(4) REIT investors are functionally illiterate.
(5) If Slovakia of all places crushes the Greek bailout, I may just piss myself laughing.
(6) Earnings season is going to be absolutely crazy. I may cover UCO for a loss in a hurry, if things turn up unexpectedly. But for now, I’m just not thinking it’s going to be a great outcome.
(7) Betting against the dollar here, while Europe crumbles and fiscal policy is deadlocked in the U.S., is probably not a healthy strategy.

Alright, back to work for me.