First let me get this out of the way; I bought back a small 3% position in MGM yesterday. I expected the name to drop on the debt issue, along with much of everything else. Instead, it rallied hard. My bad, I’m not missing out on a big move there. I’ve been in it too long for that. If they should post a profit next week, that stock is going insane. If it goes lower, well, I generally wanted to reestablish a position anyways so long as the company wasn’t doomed by Recession 2.0; I just got a head start.
On to more pressing matters:
What the hell is going on with oil!? Does this have to do with the CME margin adjustment? Is that why oil markets are running nuts like a gorilla on PCP?
What does a guy have to do to get a simple oil sell off around here? Who’s junk do I have to gargle to get some of you to stop going triple long oil into one of the most uncertain periods of time we’ve ever had, even as massive companies increase layoffs before your very eyes?
Oh well, it’s not all short positions shattering into my face today. AEC is up another 3%, more than recovering yesterday’s loss. That position is going past $20 inside the year. Don’t doubt it; they are already planning their next expansion.
Luxury apartments in Dallas coming soon to a…uh…Dallas near you!
Oh, and Forbes just dropped a piece detailing the coming uranium shortage. It settles good for the miners, like CCJ.
There would be a lot of good news here, if it weren’t for oil behaving like a braggard.
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all about the dollar..dollar down , stocks up !
look at china .mgm exposure there ? aisa all up last night !
Per my wave guy this weekend:
“Crude gained 2% on the week, and is quite close to confirming an uptrend from the mid-June (release strategic reserves) $90 low.”
and as said above me …. $
Ha, idiots are betting if the U.S. defaults, treasuries will go higher.
The reasoning has to do with the “liquidity” of the market.
Hey fucknuts, how liquid do you think the market is going to be if the U.S. defaults? I guess, “not very” is a pretty good answer.
TBT in either case …. we default, rates up … we don’t, risk on
That’s probably true.
@Cain – I think it’s all in the market already. The President just threatened to veto Boehner bill, and the market barely burped. Ignore the noise.
I don’t know, Yogi…the new game is not to short or force prices down. It’s all credit instruments and derivatives.
It’s possible there’s a huge amount of exposure here just lurking below the surface.
Common sense tells me this has ramifications. It worries me that we haven’t seen any of them surface.