The end is near my friends.
Greed makes market Frothy.
With the Yankee dollar down 35% in less than two years, record deficits, demagoguery rampant in the media and to top it all, a furry of speculators chasing the illusive buck.
How many laidoff works are opening these accounts at discount brokerages?
What is their average net worth profile?
Are they using saved up or severance money to speculate?
With 7MM newly unemployed Americans, Wall Street has the dubious disctintion of having laid off only 8% of its work force. The latter remains unscathed and the concentration of power nearly tripling to the whim of the Fed and the Treasury department.
In this electronic age, we now have Click power and the stock market has become the latest casino. You don't have to tip anyone, go into security lines to get to Vegas and you can trade from the comfort of your skeevies.
The economic numbers do not support such idiotic speculation and at this rate of Government Propaganda, President Obama is going to have to move into Air Force One to make it to his next motivational speech on time.
STRATEGY
Sold all US banks, kept MSFT and INTC
Best to buy gold and have it delivered to your safety deposit box...
We might not trade in the same attire but we are starting to bet against this with December S&P puts (20% done) up to a full 100% position by October 14th
Dollar parity coming soon!
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2 comments:
re "dollar dollar poarity soon":
- which dollar vs what exactly ?
= define "soon" please. my wallet is like a noose around my neck: it breaking "soon" highly likely not soon enough for my general well-being that is. tia!
Dear Anonymous,
Dollar parity was referring to Dollar-CAD
Soon may well be before year end but ALL BETS are off if the Harper government is thrown in an election. As we all know too well, markets hate uncertainty while there is an uncertain outcome at stake. The Loonie could back off a couple of pennies but would certainly cover ground as we expect the election period to stay pretty close to the minimum 36 days!
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