Thursday, September 20, 2007

GOLD Futures up $15?


Pretty much every commodity is up today across the board. Gold at new highs. Oil is a couple cents away from its highs. Everything from corn to pork grinds is up. Meanwhile the US dollar is hitting new lows against the Euro, Canadian dollar, and the Swiss Franc isn't too far off either. So as the US dollar depreciates along with US homes and commodity prices increase inflation the stock market makes NEW HIGHS. If that was a statement on a True or False question for a test I was taking I would have chosen FALSE. Anyway, can someone tell me what is going on with The Governor and Company of The Bank of Ireland (Symbol IRE)? Look at the chart-


With a Market cap over 5 billion, the institutional ownership is incredibly low.

I'm looking at VIX options for November, and I see that selling puts right now is probably a good bet. There happens to be big open interest at the 25 call. If I were a hedge fund I would definitely be hedging myself to the downside right now after a 400pt run up in the Dow, with potential bad news that could come out over the weekend buying some VIX calls wouldn't be a bad idea in the short term.



I don't want the stock market to go down, as I'm sure Warren Buffet doesn't either. How does Warren Buffet hedge his portfolio? Anyone ever ask that question.

Guess what HAL made 52 week highs yesterday. If you can't beat um, join um, right. (Cheney)

Guess what hedge fund made the most money this year, particularly during the July-Aug selloff, the one with the word Paulson in it. (Paulson)

Paulson and Cheney,,,,,,,Bush,,,,,Oil,,,,,,Correlation does not mean causation, is that how the saying goes.
As President Bush said earlier this morning,,,,I will not comment on the matter. (Iran, Syria)

Ok, one more skeptic criticism of the market- From Reuters- Bear Stearns Cos Inc (BSC.N: Quote, Profile, Research) posted a 61 percent drop in quarterly profit on Thursday on bad bets on subprime mortgages and disrupted fixed-income trading, but its shares rose after the firm said the worst was largely over.



So,,,,,BSC is up over 2% on a 61% drop in their profits,,,,,,,

To all you longs out there, don't lock in any profits if you are up, in fact you should double up to the upside, all this news out there is just hog wash. When Ms. Clinton becomes president (DEM), expect the market to do what????? Exxon supports REP's remember. Ok, enough with the whole stock market and political conspiracy stuff. I'm out of the markets and living a stress free life!!!!!!! WoooHooo!!

PS.- I'm listening to Bernanke responding to questions right now, a Congressman brought up the question, how do you morally justify the depreciation of the US dollar,(bring up points of propping up the Stock Market while inflation rises, ie commodities rise),,,,,Bernanke pretty much said in response, we are monitoring the Inflation through our INDICATOR, Next Question!

Oh, wait, now that was funny,,,,,Paulson "can you repeat the question?" (laughing),,(regarding the housing and credit concerns in the US),,,,,,,and the answer is,,,,,OH WAIT,,,he doesn't answer the question,,,,totally side stepped that one,,,,,No wait here it is,,,,,I will prefer to discuss that personally,,,,(not on the open air where millions of Americans can hear it,,OK)

Ok, now for more controvery--THE JENA 6



If a white kid hung a noose on a tree in Oakland, CA,, he wouldn't have been beaten up,,,
no,,
He would have been filled full of lead,,,
Has anything changed in the last 50 years down in the south
You know who is Annoying,,,,,REV SHARPTON,,, Any time an issue that comes out which could even hint white vs black, Rev Sharpton comes on the scene and starts forming rallies, and tries to do just what he said here---
"Sharpton, who helped organized the rally, said this could be the beginning of the 21st century's civil rights movement, one that would challenge disparities in the justice system."

So to some it up today, today's NEWS headlines have-
More war,
More depressing US economic conditions
More of the US stock market going up on bad news
More inflation and crumbling of the US Dollar
More hog wash from Bernanke and Paulson
More segregation between races
More Bin Ldaen (miss spelled for a reason, ie getting my blog shut down by the internet gods for mentioning his name,,oooHH!)
And,,,,,,,this blog has officially took on a negative tone,,,Sorry,,it's just a reflection of the inner sole and how it is reacting to its environment,,,,,now where did I put my Prozac and Abilify?

Ok this is really the last comment,,,CNBC's new catch slogan they are running right now-

"WHEN CRAMER SPEAKS,,,,THE FED LISTENS,,,,,,(the FOMC has cut the interest rate 50bp)
THE BULL IS BACK,,,,"

100% long BABY!!!

3 comments:

Anonymous said...

You forgot the market is no risk guaranteed 100% up when B & P are involved.

High Probability Trader on 10:53 PM said...

Oooh yes, the Plunger protection boys, and helicopter Ben now TOO!,,,guaranteed 110% upside!!!

All you gotta do is go long the dow (big caps) and short the Russell (mid/small caps), this is the only fundamentally correct strategy that seems to be working still.

Anonymous said...

futures trading

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