It looked like the floods were rising this morning and I needed to float the ark, sail to whereabouts unknown. But the waters have receded and the panic has lessened. Even still, there are great risks to this tape and I believe a large TLT position is warranted. Therefore, ergo, I am inexorably long TLT and expanding the size of my ark.
The dollar suffered its worst single day draw down in 7 years. As a result, bonds sold off too–denting the ark to the tune of 1%. Stocks are higher by 175, yet only 60% of them are actually in the black.
Today wasn’t a day to rejoice. It was a day to be grateful for being alive–given an opportunity to board the ark, alongside all of the zebras, cobras and parrots– before it sails off again the next time the floods rise.
Because when it does rise, the waters will be 10,000 feet deep, immersing everything in a deadly briny cocktail that will send us back to the dark ages.
Happy trading.
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In a dark corner of a dimly lit room, a Belgian trader laughs and sells treasuries for his Chinese master ….
In a dark corner of a dimly lit room, atop a plastic-wrapped “sofa,” Janet Yellen bites hard into a Werther’s Original, cracking it into pieces. “Goddamn that Ben Bernanke. Goddamn him.” She had just received the word.
lol
Outstanding, but I’d suggest that you go with “davenport” over “sofa” when describing what Grandma Yellen calls her couch.
I am so in love with this Ark metaphor words cannot describe it. Never saw the movie these pics are coming from but I am going to watch it tonight. Supreme hat tip to you Le Fly.
Blast from the past – thoughts on VHC????
die patent troll
Yes, usher the poor zebras onto the ark.
Michael Kors is busy designing the uniforms for the boat crew.
It’s time to start buying TBT for the long-term account. We all know how this story ends. The Ark will eventually find land.
The ark runs on marine diesel it can sail on 4 ever
I hate the Ark metaphor…because a bunch of jackass hillbillies are actually building one in my area. Oh, and it will include animatronic dinosaurs. Because, paleontology, big myth.
For a more realistic calculation of the depths to be reached, think non-linear leverage. (i.e. derivatives) Many birds other than chickens will be coming home to roost. EUR is going up for a reason.
Is there a European ark? Perhaps built with German or Swiss precision?