The most savory, satisfying taste of vengeance is in my mouth, as the Erinyes circle overhead, preparing to exact my Fury.
The pause in this campaign is over. My temporary setbacks have been dealt with. Now I will regain what is rightfully mine, by force whilst comfortable decorated in my finest war tent.
Those of you who clamored to by oil (helping to give the banks bids to sell their stock to, I would add) are now like little piles of straw; dry tinder for my spreading fire. You will begin to feel the strain as my war machine marches over your backside.
You are soaked in your precious oil, and I am over here playing with matches.
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I believe they call that the homo hammer.
Shit’s gettin’ real and there is a seemingly tragic inevitability of it all.
But it just goes to show how important picking your products are. Pretty good rally going on in silver/gold right now. Definitely wouldn’t have expected that. I was expecting a dollar/treasuries vs the world kind of day. Can’t see any reason why metals would move other than people already front running the next QE rumors. LOL.
Probably. The QE trade is very real, I’m not saying we won’t get more easing. But it’s like a game of musical chairs. Only one person gets to sit down at the end. Otherwise the music keeps playing until enough people get wiped out.
Speaking of choosing the right product, thank god I didn’t short treasuries like I kind of wanted to a few weeks ago. But I’m waiting in the tall grass. At this rate, if we get a legit 10-15% correction we could see 1.5% on the 10 year.
Yep. Plus the Fed Committee is stacked with psycopaths. If things get bad enough, THEY WILL MAKE treasuries yield .5%.
That’s what desperation does. Good way to get wiped out.
Better off taking fixed contribution negative carry trades on the long bonds, in my opinion.
and 2% on the long end ! The Fed will be buyer of last resort and peg long term rates.
Maybe. It depends how many are offered for sale. They have to be careful; if long term rates get too low, why fund the government for long periods of time?
Conversely, if people get wind the Fed is going to buy heavy into long bonds, why bother buying short bonds in the now? Could create a short term funding problem, that would then only be solved by…wait for it…the Fed buying more bonds.
And at some point, Fed intervention negates any incentive to loan money whatsoever. Bernanke needs to tread lightly if he doesn’t want a full blown currency crisis/government solvency crisis on his hands.
Alright, I’m going to stop mocking you all now. Today has the makings of something really ugly.
Last time I saw ERY/ERX and UCO/SCO act like this, ERX ended the day down 20%+.
Just watch yourselves. I may hate some of you, but I don’t want you dead.
I’m in ERY and in addition also checking out the nasty fall in BNO and UGA and wondering what your target is for ERY.
My target for ERY is $16-17. Although I might elect to only scale out half there.
Well done on the oil call
Hope you were able to hold your full line for the break
Copper still to follow.
The Chinese have stuffed over 1m tonnes of the red metal into warehouses – cant go on forever.