May of 2012 is over… it has been painful for the bulls. Hey some of you might not know that it has been the worst month in Asia since 2008, Europe needs no comment and North America? Oh well we know what is in front of our eyes.
Today we have witnessed a window dressing attempt by MM and red curtains have been displayed.
No matter how hard they have tried to make it green, they could not manage to swing it.
I expect a selloff tomorrow, after all June is not a pretty month in the books…
I am still maintaining high cash for now.
In other news: FB rallied today … does anyone really care? It is entertaining to watch nonetheless.
My precious metals position is still neutral, just collecting my 18% covered calls premium.
Happy trading,
Mr.P

PS: Action in JNK and HYG is telling you something.

Something extraordinary happened after market close today that prompted me to write this.
You know the story already and it’s all about one of the best if not the best (or so they say) financial institutions in US of A.
Oh how we like to lay blames on everyone also on the planet from Greece to Portugal to China to …
Fuck no, not this time.
Look at yourself in the mirror; this is an American bank, supposedly following the rules set by SEC or another Government body and what you get – fucking morons trading other people money and lying to everyone about their doings until the losses get so large they have to disclose and now they can take the whole market with it which is already fragile enough.
Shame on you!
All this prop trading desk shenanigans need to stop, someone has to investigate this BS and Jamie, I actually thought you know your shit… what a shame.
FD: I do not own fucking US banks and never will, but I might look for my FAZ mobile key this time.
Mr.P

It has been a while since I have blogged here – simply too busy with other stuff.
So far markets have been moving in perfect seasonality and previous 2 years pattern, which is what I have expected.
If you are like me and concerned with not losing your hard earned money rather than scoring big, you should have been ready for this action and welcome it as it brings opportunity.
Of course you can use some small part of your port to make some fun trades lol.
Yes, whatever part of my portfolio I can use for day-trading is having a blast and I hope you do to.
It is also not a bad environment to use covered call strategy and allocate some capital into safe sectors like consumer staples, pipelines, utilities and sin stocks.
I have no interest in any kind of commodities plays, technology or momo plays – I live it to you day trading geniuses.
Happy trading,
Mr.P

PS: do you know where your hedges are? You better…

April 26, 2010
April 29, 2011

If this dates mean something to you – trade accordingly, market loves patterns,
and although patterns change being prudent is something I consider for myself.

This is not an investment or trading advise by any means.

Happy trading,
Mr.P

Here you go: European bad news blah blah….
15% unemployment? Ha, have you lived there? This is normal for them 🙂

Just remember to stick with the rules 2012 Rules
and you should do fine.. for now anyway 🙂

Leader of my SINs DEO is going for 100 roll… drums please.
Don’t forget the green coffee Green coffee and donuts THI

Happy trading,
Mr.P

Ha ha: top my ass…
Happy April Fools’ Day!

The Morality of Putting One\'s Head in the Sand

very nice explanation on USO etf

In the past few days a lot of things have been said about this garbage – TVIX.

Firstly I would like to say that in my opinion there is nothing wrong with ETFs,
think of them like mutual funds with low MERs, that is all. They are gaining a lot of popularity among investors and traders since the first Vanguard had come out years ago.

Leveraged ETFs are different and produced as High Beta trading instruments which you can use successfully at
the right time and for day trading or a very short time frame swings.
Now ETNs are the whole different ball game. ETNs DO NOT OWN the underline,
they are very complex structured trading instruments, which I think nobody can REALLY fully understand.
TVIX would be a good example of what can happen when you trade something so complex and retarded by design;
they will disconnect form the benchmark and behave like drunken sailors.
This is not all – since they do not own the underline they are treated like a debt note if provider fails,
yes if CS is in a big trouble tomorrow TVIX CAN go to ZERO.

Please do yourself and your trading account a favour and STAY AWAY.

Happy trading,
Mr.P

Enjoy kids 🙂

Really? No, really?

Trading or investing cannot be taught, some tools can be taught that is all.
It is very personall and different for everyone.

I have taken profits EOD today, first time serious profits this year, BUT
I have not reduced my overall exposure much…

I just sold some beta, that is all – that is how I take profits.. it’s different for everyone.

Happy trading or holding,
Mr.P