Should City Center file for bankruptcy, MGM will likely follow suit and all of the contractors working on the project will get hit too. As a result, unfortunately, I sold out of my PCR position, for a loss.
I bought some SRS, based upon the MGM situation and the possible jarring effects it should have, for the REIT sector. However, keep in mind, I am just getting started. For now, I will continue to hold my little NSM position.
Apparently, the market forces are ignoring such detrimental news and attempting to bottom fish here. My hunch, such efforts will result in outlandish losses for the assholes who choose to ignore things, such as reality or non-fiction.
Don’t get me wrong, I do not wish death to U.S. equities, only a deep coma. I am not bitter, whatsoever, over missing out on the biggest rally since, well, the great bottom of ’74, not at all. “The Fly” is a simple working man, who harbors no ill intentions against asshole dip buyers or idiot bank lovers.
Coming back to the idea of “reality,” it is very possible for us to bear witness to the greatest ponzi scheme (U.S. Gov’t) ever concocted, since the “The Great Stimulus plan of 12,331 B.C.,” where all cavemen were encouraged to put leopard skinned rugs on their cave walls, instead of the cheap prairie dog kind. What a ruse! At any rate, we may very well see the Dow Jones Industrial Average drop by a whopping 50% from today’s levels, based upon good ol’ fashioned DEPRESSION and WORLWIDE FAMINE.
Pardon me for being a two bit alarmist. It is my style.
UPDATE: I sold out of my BUCY position for a .30 win!
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