Seriously, I’ve always wanted to use that headline. A thousand years could pass and I’d never get the chance to discuss Scotland, so pardon my zeal.
I don’t know what to think about Scotland, frankly. Perhaps England may have to enact and olde ancient tradition, Primae Noctis, to set those drunkards straight. Either way, it pleases me to know that the ghost of King Longshanks is probably pissed off right now.
Stocks look strong ahead of the biggest ipo known to mankind, BABA. Both SFTBF and YHOO own large pieces of it. So if you want to play the hype, before the ipo, just buy those stocks. Then again, maybe people sell the news? All I know is this: LITB is cheaper than balls–because they are balls. I’m looking for a pop to $10.
Yes, I am still long TLT and utilities. Let’s examine this for a moment. I am flat to down 2% in my utilities and after two months of dividend payments, I am down about 3.5% in TLT. I piss on -3.5%, hardly an onerous price to pay for a hedge. The whole point of these positions is to protect against the inevitable destruction of the planet called earth. Now that I see it won’t happen, although I am reticent to think boolish ahead of BABA, I can start repositioning for upside. The opportunity afforded to me by the IFON spike and my subsequent sale leaves me in a very liquid situation, young chap.
You’d be wise to not bet against me, ever again.
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