Here we go again - back to the grind. I took my son to the Cub game yesterday - pathetic - looked like the Big Z was throwing batting practice for the Mets. Anyways back to the big casino.
Futures are a bit heavy this AM with SPUZ down 6.5 bucks, China got smacked last night for almost 7% - if our market were to drop 7% today that would knock the S&P down to about 950 - not likely to happen just putting it in perspective. Darkmatter, AIG,C,FNM,FRE have been ruling the day - believe it or not these zombie companies have an important psychological role in the day to day of this bullrun - when they stumble I believe the market will too.
Treasuries are continuing their ascent this morning with the longbond up 1/2 a point. Im going to look to fade that move by putting on some buywrites in TBT (an untrashort bond ETF).
On friday we bought some Jan premium in PALM and SHLD and I will be looking for more names to do that in today.
more later
JB
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Too bad about the Cubs. It's tough on a little kid to see the home team lose.
ReplyDeleteRight now, I don't have much to add about the "big casino", although it appears a bit less big than it did 30 minutes ago. I hope you still have some shorts on and can rake in the chips while they are for the taking.
falco peregrino
He was happy just cracking open the peanuts
ReplyDeleteHow about you? Are you cracking some peanuts today? And the existential question - are you happy, whatever that means?
ReplyDeletefalco peregrino (henceforth fp)
Im functional today - thats as far as Ill go..
ReplyDeleteSometimes, in this lunatic assylum we refer to as the world in which we live, being functional is quite an accomplishment. I recommend reading some Saul Bellow novels (I can tell you which ones) to gain perspective from a great thinker and writer. Besides that qualification, he is (was)an "uncle-in-friend".
ReplyDeletefp