A Rainy Monday Morning

Hail iBankCoin! And its immutable record – CADAVERA VERO INNUMERA

I have to be honest. I half expected another micro-blood bath this morning; not necessarily for the markets, but for me personally.

Late Friday, the Obama Administration was so generous to announce that they know damn well Obama doesn’t have to worry about another election. They communicated this through the medium of shutting down 1.6 million acres of federal land slated to be opened for gas/oil drilling.

I don’t know if there are even any hydrocarbons to be had on this land. I don’t care. That’s not the point.

This was a clear shot across the bow of the oil industry.

I shuddered as I curled up into a ball, just anticipating the shelling I was set to receive this morning.

Instead, BAS is up almost 5%. Evidently, having your industry in the crosshairs of environmental/religious extremists who have no care for humanity or the consequences of their actions is a really good thing.

Who knew?

I am trying to take these developments with a grain of salt. I expect a punt, politically, on the issues of the fiscal cliff at home and EU debt across the Atlantic. Then I expect the merriest freaking Christmas we’ve had in 5 years – because we can.

Therefore, I am resolved to wait out a little longer for a bottom to form. I have some targets (assuming each selloff has become more muted than the prior) relating to both equities and bonds. If we cut through those ranges, I will begin to rethink things, and will raise more cash at that time.

For the moment, I’m 20% cash, holding AEC, CLP, CCJ, BAS, and physical silver. YTD gains have been hammered, down from 20% to just under 5%.

5 Responses to “A Rainy Monday Morning”

  1. got some AAPL calls

    Fly trying to shake me out tho [sic]

  2. @cain
    you get the last laugh on poseidon concepts today. came out with some bad debts and cut full year guidance by 1/3rd since august the 8th. still paying the dividend but is down 55% today to 5.75 yielding 19%. would have been normal to see it down 25% under these circumstances but 55% is hard to fathom.( was 16 a month ago) obviously management misled shareholders 1/2 way through the 3rd quarter. sucks!!!

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Previous Posts by Mr. Cain Thaler

A Rainy Monday Morning

Hail iBankCoin! And its immutable record – CADAVERA VERO INNUMERA

I have to be honest. I half expected another micro-blood bath this morning; not necessarily for the markets, but for me personally.

Late Friday, the Obama Administration was so generous to announce that they know damn well Obama doesn’t have to worry about another election. They communicated this through the medium of shutting down 1.6 million acres of federal land slated to be opened for gas/oil drilling.

I don’t know if there are even any hydrocarbons to be had on this land. I don’t care. That’s not the point.

This was a clear shot across the bow of the oil industry.

I shuddered as I curled up into a ball, just anticipating the shelling I was set to receive this morning.

Instead, BAS is up almost 5%. Evidently, having your industry in the crosshairs of environmental/religious extremists who have no care for humanity or the consequences of their actions is a really good thing.

Who knew?

I am trying to take these developments with a grain of salt. I expect a punt, politically, on the issues of the fiscal cliff at home and EU debt across the Atlantic. Then I expect the merriest freaking Christmas we’ve had in 5 years – because we can.

Therefore, I am resolved to wait out a little longer for a bottom to form. I have some targets (assuming each selloff has become more muted than the prior) relating to both equities and bonds. If we cut through those ranges, I will begin to rethink things, and will raise more cash at that time.

For the moment, I’m 20% cash, holding AEC, CLP, CCJ, BAS, and physical silver. YTD gains have been hammered, down from 20% to just under 5%.

5 Responses to “A Rainy Monday Morning”

  1. got some AAPL calls

    Fly trying to shake me out tho [sic]

  2. @cain
    you get the last laugh on poseidon concepts today. came out with some bad debts and cut full year guidance by 1/3rd since august the 8th. still paying the dividend but is down 55% today to 5.75 yielding 19%. would have been normal to see it down 25% under these circumstances but 55% is hard to fathom.( was 16 a month ago) obviously management misled shareholders 1/2 way through the 3rd quarter. sucks!!!

Comments are closed.