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It wasn’t just Rick Pitino’s formerly unblemished Cardinal Birds team that went down today to the scrappy Drexel Dragons of Philly, it was a plethora of formerly high flyers. One great example is the LED players CREE and VECO, which got swung from their armpits into a molten lake of lava today.
Like my Cards, these high fliers were tired, and yes, a little bit cocky with their recent gains. Only the grace of God saved me from getting left standing by the record players on these two. I was trimming recent runners, and had only a bit left of these two, so I decided to take profits on the rest over the last week, the last of which I sold yesterday, as reported in The PPT.
I think what happened to CREE….
And to it’s close sister VECO….
… all goes to show that the momo is starting to come out of the markets. I again implore you to continue trimming back risk assets such as these “tip of the iceberg” plays.
Best to you.
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Your prescience and posts are appreciated, Sir.
Speaking of timing, I failed to get something done, and our new kitten appears to be going into heat.
This means little sleep for me and the hilarity of our spayed male cat who is clueless.
Spayed, but not unbarbed – the peace of Barker be upon ye.
I have a no cats rule. Allergies are bad enough in this region without excarcebating….
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Nice suit, Rick.
That pic was from last year’s “White out” where everyone in the arena was supposed to wear white.
Not that Rick doesn’t enjoy 70’s era disco fashion like any good Lawn Guyland guido would instinctively….
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jake, im in louisville. GO CARDS! just found my new fav poster in iBC
Its nights like last night that make you want to kill Pitino. They had like eleven guys with four fouls by midpoint of the second half and we’re bombing threes throughout the last ten minutes?
Whaaat??
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Forgot to add last night that I had sold 2k of RGLD at a smersh below $55 yesterday, as well as another 8k of BAA at $3.74.
That was all disclosed on the PPT, however.
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I just dipped my beak in LLL at $69.80.
You like?
I am not a defense aficionado, but people “in the know” will tell you that’s the best company in the space.
I have always been a fan of GD as well.
I am not buying anything right now, as the entire market is a VW microbus filled with dynamite sticks sitting next to a shopping mall in Stockholm.
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Get you some
As a Celtics fan it’s still a bit painful to hear the name Pitino. Good luck and good riddance.
He is a college coach. Its a different animal.
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Hey Jake:
I happened upon this on one of the sites I frequent. It’s a little off topic but I thought you might like it
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Tax System explained in beer
Suppose that every day, ten men go out for beer and the bill for all ten comes to $100.
If they paid their bill the way we pay our taxes, it would go something like this
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.
So, that’s what they decided to do.
The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve. ‘Since you are all such good customers,’ he said, ‘I’m going to reduce the cost of your daily beer by $20.
‘Drinks for the ten now cost just $80.
The group still wanted to pay their bill the way we pay our taxes
So the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’
They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $ 5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 ( 22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the
restaurant, the men began to compare their savings.
‘I only got a dollar out of the $ 20,’declared the sixth man.
He pointed to the tenth man,’ but he got $10!’
‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only saved a Dollar, too. It’s unfair that he got ten times more than I!’
‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’
‘Wait a minute,’ yelled t he first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’
The nine men surrounded the tenth and beat him up.
The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.
David R. Kamerschen, Ph.D.
Professor of Economics
University of Georgia
For those who understand, no explanation is needed.
For those who do not understand, no explanation is possible.
I have seen that in a different form in the past, but not updated for the current tax rates, which is more au currant.
The interesting thing about this is that it doesn’t even address the disparity between the “value” of beer and a bunch of useless government services which have not nearly the weurth of a nice glass of malty beverage.
That’s for another example I guess…. 😉
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Is the tenth man now drinking fine wine at home with his wife?
Yes, he is on strike from the small plebs…
Until he gets tired of the ball and chain, of course.
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