Bought RGR for $49.29. This is a play to honor the grand Turkey Gods, going into the season of giving…rifles before a new wave of anti-gun policies get thrust into the regulatory process.
I will sell before the end of the week.
Cash stands at 30%.
Comments »Dear God, almighty… protect us from thyne, Satan, and his instruments of sacrilege.
May he tempt us no more with promising of VXX, in our capacities of gluttony and excess.
And keepeth away also its younger, half-retarded brother, TVIX; second son of Sodom and bastard in thine sight.
That we may not fall into irrecoverable losses, and lead us into bankruptcy.
Amen!
Comments »Despite the market weakness, natural gas futures continue marching steadily higher. Considering the above average warm weather in most of the country (first cold wave seems ready to set in this week), and it would seem that the shortage of storage space has been worked through in one way or another.
This was the very thing I was interested in betting on when I took a position in BAS. I was too afraid to bet directly on the price of natural gas for fear that this warm weather would be the stake driven through the heart of natural gas.
If prices continue to shore up, it will become increasingly more feasible to drill for natural gas again. Accordingly, I expect activity to pick up in the fracking services – weakness in fracking was the primary driver behind BAS’ most recent earnings trouble.
I remain unconvinced on the need for panic. But every day we do not rally herds us closer to a wash out. It has been too long since we had a flood of fear drowning us. My intention is to sit on my 20% cash position and watch things closely, rather than give in to that same that has hindered us for so long.
Comments »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%.
Comments »Well, I was wrong about the market running higher. The futures ramped and I got excited. It’s part of the Perma-bull lifestyle.
You do some tummy crunches in the morning, then down ground up liquid lawn clippings, and finish it off with a cardio workout involving mostly mocking Keith while listening to Bob Pisani-on-tape.
(one, two, one, two, one, two…)
I jest…
But in all seriousness, I don’t really care that I was wrong. AEC and CLP are making a move higher right now, and the multifamily theme is strong.
The naysayers from this summer, predicting imminent reversal of rental occupancy and ceiling for rents have been left holding their persons, naked in the middle of the road. Higher house prices have not diminished multifamily in the slightest, most probably because those house prices aren’t exciting a huge push for real estate by renters.
Let the houses on the market trade up 2X. I don’t care. As long as AEC and CLP stay 95% occupied with a nice 4% trend in rents, I don’t give a shit what housing does.
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