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I still think this dopey market wants to go higher. Anyway, I'm holding on to my SPY May 21 2011 133 calls for a while longer.
Sy Harding over at Decision Point has an interesting piece about the mythical Bernanke Put.
http://www.decisionpoint.com/TAC/HARDING.html
Lee, as a fellow etymological Luddite, I agree. But perhaps these annoying abbreviations have morphed into actual words in the same way that a brand name becomes a word. Think Kleenex.
This market is unidirectional and flicks off all manor of bad news like a flake of dandruff on a shirt collar. I feel as if the crowd is sitting around the bay watching the water recede with impunity.
"I always get the feeling that when lesbians are looking at me they’re thinking, that’s why I’m not a heterosexual" - George Costanza
And don't forget that Bob Sackamano's father lived in Florida and was the source of the "Willard" electronic organizer, a cheap imitation of the "Wizard". Or as Jerry's dad might say "What is this thing, a tip calculator?". Bob also provided a bag of defective condoms to George who then briefly thought he had impregnated Elaine's friend. I'm starting to smile already, geez - what happened to good TV.
Likewise - just finished my oatmeal
It's economic subduction: you have the Bear Plate consisting of a myriad of financial, social and geopolitical worries slowly building the necessary force to slide underneath the US Bull Plate. And the longer the Bull Plate resists, the larger the resulting tsunami.
I had expected the dollar to attempt a rally here, but it's sitting on a long term support line with a weak RSI. If it doesn't strengthen soon it could plummet, and I'm not sure of the market repercussions.
Yeah, looking like a bear roast, but it's options expiry - expect wild swings. Plus, no fly zones, rising oil, nuclear melt downs ...sheesh, what's a trader to do? Anyway, the Doc's on the sidelines.
You mean Osama-bin-forgotten?
And a good portion of the price increases are of the stealth variety: identical packaging but less product, 15 ounce cans of tomatoes are now 14oz, fewer slices in the bread bag, etc. Less is more!
This *market* is giving me a headache
Another interesting chart from dshort:
http://dshort.com/charts/Chris-Kimble-Chart.html?/2011/Treasury-equity-peaks
OT Speaking of swinging for the fences - was so weird seeing Adrian Gonzalez in red the other day. Hope his shoulder is OK. Opening day can't come soon enough.
Lee, here's the correlation between the 10 year and the S&P since 2007:
http://static.seekingalpha.com/uploads/2011/3/14/saupload_tnx_spx_snapshot.png
OT - I've read two of Feynman's books - insightful, interesting reads. Just finished Stephen Hawking's "The Grand Design" where Feynman's brilliance is highlighted by Hawking.
Agenda 21 - Get out your tinfoil hats! Fear the black helicopters! World government is on the way! OH, the humanity!!
IMHO, the $USD may be setting up for a nice short squeeze. The line in the sand for the dollar index, in my opinion, is around 76.17. Short activity on the USD is waaay up, but Greece may be hinting at new troubles for the Euro.
zab, John Hussman has a good treatise on QE2 here:
http://www.hussmanfunds.com/wmc/wmc110228.htm
Sold my SDS calls too soon - out for a bike ride.EOM
Sheen would make a great Shemp
OT: I'll take the Stooges any day. If this doesn't have you laughing in the first few minutes you must be humor impaired.
Sheen is not acting, he's just being himself. Which isn't saying much.
We certainly were in the 50s when I was a kid - we walked everywhere, rode our bikes, watched Ozzie & Harriet, Car 54 Where Are You, Super Car, Hazel, Lucy, etc. No worries, no abductions and drugs were a scary myth. Of course the past is nebulous, a sum of histories - I wouldn't want to have been a kid in Victorian times.
Geez, I only got 5 out of 10 - equally crazy I guess
Bot SDS Apr 16 2011 21.0 Calls @.99
OT: You have to admire the marketing prowess of Apple - their ads are ingenious and embrace a Philip Glass like minimalism. Take a look at the ad for the new magnetic iPad 2 smart cover; no voice over, sparse score and clear imagery. It's the analog of a Dashiell Hammett novel (think Maltese Falcon) - every word counts.
http://www.engadget.com/2011/03/02/ipad-2-gets-a-smart-cover/
True, but riddles exist in their own logic domain that discounts quantum physics, sum over histories, pesky Newtonian side effects, mismatched tire pressures and, occasionally, integer division. So in conclusion, 200 is still the correct answer.
Ding Ding Ding - correct oeo2oo:
200 miles. For every mile traveled each of the two tires sustained one mile of usage. Therefore in a total of 300 miles traveled there would be a total of 600 miles of wear. And 600 divided by three is 200.
Exactly Newly, John Scully was a competent manager but Apple devolved into mediocrity under his reign. It's difficult to replace the Bard or Leonardo or Einstein.
OT Riddle:
Lee rode his bicycle 300 miles. Three tires were used equally in accumulating this distance. How many miles of wear did each tire sustain?
Correct zab, a,e,i,o,u,Y
Etymology is endlessly fascinating. Check out:
"Reading the OED: One Man, One Year, 21,730 Pages"
"Good Words to You: An All-New Dictionary and Native's Guide to the Unknown American Language" by John Ciardi
Or this must listen to Public Radio show:
http://www.waywordradio.org/
Dilapidate literally means "to shed stones" Think about it
di·lap·i·date
Pantmaker, I always read Hussman's weekly missive - I've parked quite a bit of cash in HSTRX which hasn't had a losing year since its inception in 2003.
Newly, some teens here in San Diego loaded up a pickup bed with snow from Ramona and built a series of snowmen on Pacific Beach - made for some interesting photos.
During the last meaningful correction in November the DOW skidded to a halt around the MA(50) - now looking for a repeat at around 11,860. Gravity must be obeyed.
Fasten seat belts, chairs in upright position, the engine is leaking oil.