I was having a modestly red day in the futures, but I stuck around and traded through the Ben, and now I’m happy to go home very green!
I bought two dips, sold two rips…Ben is a really good guy.
There was so much selling pressure today, especially after the FOMC pop was faded, that I knew any upward momentum could get these shorts running for their dear, stupid, lives. And Ben delivered the crack rock. As a matter of fact, he’s not even satisfied with the 6.5% unemployment threshold initially rolled out during the taper talks. He’s convinced we’ll need to keep on easing well beyond that, blessing the market with capital gains until everyone is back to work.
Obviously this news is very bullish for TPX because, as unemployment drops, procreation must increase. The safest way to procreate is within the confines of your bed. So get a nice one, yes?
Anyone want to take bets on where we open tomorrow?
It’s a long way until 9:30am…
I’ll quickly run through today’s portfolio adjustments:
I dumped AAPL for a scratch after riding the name through a trough. I can’t get excited about this name because it’s literally falling behind the power curve. That’s dangerous in any business. My assistant mocks my ghetto 4s about once a week and then changes the channels with her Galaxy. It has the infrared beam like your teevee remote. Plus I wanted to sell it at yesterday’s low, so why not sell it today, near the highs? It can go to $1000 and I still won’t regret this decision.
I scaled off some Z as it pokes around near the all-time high.
I cut my ANGI long because I don’t have patience for it when YELP is crushing, Z is crushing, and ZNGA is flirting with me. What was once a 6% gain was booked for a 5% loss.
All of this left me feeling cash heavy aka homo erotic. So I scuttled into DDD and SD. DDD is ¾ size and SD is ½ size.
I closed the day 80 percent long with TPX of course being my largest position because my top pick continues to be TPX, got it?
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With my own ears I heard Chairman B say “inflation is around 1%” so we don’t have to worry about that.
I say we break “tradition” and empty Ft.Knox and use the gold to erect a giant statue of Mr. Bernanke.
As long as he’s smoking a giant golden blunt, I agree.
Just to state what we already know- One percent inflation by their metric and in the financial world at that level.
However, down in middle and lower income class, inflation is significant. For example, product package size shrinkage is in full effect. Cape Cod potato chips have turned into a parody, the new normal size is laughable. The grocery store is looking like a toy shop of miniature packages.
Open at double top. Every time the clam surprises we top out into a small correction(last Sept for instance). So did he surprise?
It’s all there in front of you, you know the opportunity.
Screw all those other guys, Ben would never leave us hanging.