As a baccarat player one of the things I look for are streaks. There are many types but should you catch one early just let it ride until you merely lose that last hand. It seems one smart play is to buy the SPY puts end friday and sell on mondays since mondays have been down 8 weeks in a row now. After the last 2 days I have to believe this coming monday will continue that streak simply from a profit taking point of view if nothing else. [more]
You would think the market thinks otherwise in light of the pounding this stock has taken. This one bugs me. It was one of the 3 stocks I picked for 2012. The other 2 were Sandstorm and SDRL, both kicking butt from when I picked them. Xerox hasn't. [more]
Ok listening to Romney sing "America" in Obama's new commercial makes my ears bleed.
I don't like the fact that telecoms are basically "leading" the market as they have been. Rule of thumb is that when they do we are nearing the end of a bull run. Also another rule of thumb is that the first leg of a bull run you can throw darts at the charts for winners. Second leg is when things get tighter, and last leg is when you are picking the bones. People know me as a permabull but I don't like what I am seeing. I smell a recession so hide in yield. [more]
Taxpayers threw hundreds of billions of dollars at the banks to prevent a total crash. We then in turn have been fining these same institutions for predatory lending, robo signing bankruptcy paperwork, loan rate discrimination, and inevitably on the Libor scandal. [more]
After listening to President Obama's speech today regarding seeking to extend just the Bush tax cuts for those earning $250,000 it is obvious he took my advice from here: [more]