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Dr. Fly
Indeud

PORTUGAL IS THE NEW EXCUSE TO PANIC

Dr. Fly Wed Jul 3, 2013 3:58am EST 9 Comments

This is truly orchestrated. Do not believe anything other than what you see on the surface.

Portuguese yields are soaring, up 150 bps, above 8%– thanks to something we already knew about that no one really cares about.

Egypt is readying to throw hard liner Muslims into the Suez canal to drown and oil is soaring, as a result– just in time for summer!

Pardon my sarcasm.

Refiners work under these conditions. Watch the Brent-WTI spread. If it widens, buy WNR, HFC, DK, ALJ and CVI with both hands and testicles.

May the French fry eaters in Portugal die hard.

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9 comments

  1. McNuh
    McNuh
    July 3, 2013 at 4:13 am

    88?

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  2. Masanda
    Masanda
    July 3, 2013 at 4:17 am

    I saw an earlier headline about the crooks at S&P downgrading a bunch of EU Banks as if anyone needed concrete proof that this whole carnival game of a global economy is completely rigged.

    I did mention in the comments of a post a week or so ago that I’d be using any market gains to add to my TZA position. Well, I most certainly added at $30 on Tuesday and now stand at 70% cash as well.

    Should the shit hit the fan in Europe and Asia I don’t think the 900 area for the R2K over the next few weeks/months. Should that 900 area hold as support it could set up the beginnings of a right shoulder with a target in the 950 area to eventually complete quite the H/S pattern with a target in the lower 800s which would coincide with the larger trend line dating back to 2009. Break that and we’ll be drowning in shit.

    One day at a time, though.

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    • Masanda
      Masanda
      July 3, 2013 at 4:18 am

      “I don’t think the 900 area for the R2K over the next few weeks/months is unreasonable”

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  3. razorsedge
    razorsedge
    July 3, 2013 at 5:44 am

    hey puts should pay off today. all oil n gas plays will work. and to egypt: lord have morsi on there souls.

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  4. Jules
    Jules
    July 3, 2013 at 8:44 am

    What is a Portugal?

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    • razorsedge
      razorsedge
      July 3, 2013 at 10:34 am

      telling a woman to get on your left side, : port-u-gal… i think its french.

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  5. xxxHuggieBearxxx
    xxxHuggieBearxxx
    July 3, 2013 at 9:06 am

    Look for the good jobs numbers to be disregarded here in just a few minutes. No one is going long into this holiday weekend with what is happening in portugal and egypt.

    Probably will amount to nothing in both cases, but definitely a good reason to take some off the table today and be able to relax this weekend while gorging on hotdogs and budweiser.

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  6. clegger_2000
    clegger_2000
    July 3, 2013 at 9:58 am

    Frenched fries…

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  7. Ray Donovan
    Ray Donovan
    July 3, 2013 at 10:21 am

    good ol’ crack…

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